Common use of LESSEE'S DEFAULT Clause in Contracts

LESSEE'S DEFAULT. In the event Lessee defaults in the payment of any of the rentals or other sums provided to be paid hereunder which is not remedied within fifteen (15) days after written notice of such default is given by Lessor to Lessee and Lessee’s lenders as set forth in Schedule A; or, if Lessee defaults in the observance or performance of any other covenant, condition, agreement or provision hereof which is not remedied within thirty (30) days after written notice of such default is given by Lessor to Lessee and Lessee’s lenders as set forth on Schedule A (so long as Lessee’s right hereunder of remediation or cure of said default has not been excluded pursuant to the terms of this Lease); provided, however, that if such default cannot be cured within said thirty (30) day period then such thirty (30) day period shall be extended by such time as is necessary for Lessee to effect such cure as long as (i) Lessee or Lessee’s lenders are diligently prosecuting such cure, and (ii) Lessee or any of Lessee’s lenders deliver a written notice to Lessor prior to the expiration of the initial thirty (30) day period in which Lessee or any of Lessee’s lenders notify Lessor that it cannot cure the default within such thirty (30) day period and Lessee or any of Lessee’s lenders represent to Lessor that they will diligently prosecute to cure such default; or, if Lessee becomes insolvent or bankrupt, conveys substantially all its assets, admits its inability to pay its debts as they mature, or makes an assignment for the benefit of creditors, or applies for or consents to the appointment of a trustee or receiver; or if a bankruptcy, reorganization, arrangement, insolvency, or liquidation proceeding, or other proceedings for relief under the bankruptcy law or similar law for the relief of debtors are instituted by or against Lessee; then, in any such event, Lessor may, at its option, in addition to any other remedy available to Lessor hereunder, or at law or in equity, upon fifteen (15) days written prior notice to Lessee, exercise any one or more of the following remedies without any further notice or demand:

LESSEE'S DEFAULT. LESSEE shall remain liable for any deficiency of rent and agrees to pay the same if it abandons or vacates the Demised Premises before the expiration of the term hereof or in the event this Lease is terminated for any breach of this Lease on the part of LESSEE, provided that LESSOR shall make reasonable efforts to re-rent the Demised Premises and all proceeds received therefrom shall be applied toward LESSEE'S obligation. If LESSEE vacates or abandons the Demised Premises or this Lease is terminated prior to the expiration of term hereof. LESSOR may enter to prepare the Demised Premises for the next lessee. Such entry, unless expressly stated in writing to the contrary by LESSOR shall not be deemed acceptance of the Demised Premises as an ultimate surrender so as to release the LESSEE from further liability under the provisions of this Lease and shall be deemed an entry for the purpose of mitigating damages. Newspaper advertising shall not necessarily be required of LESSOR to mitigate damages. Attempts to mitigate damages need not be commenced until after LESSEE actually vacates, whether or not LESSOR has prior notice of LESSEE'S intention to so do. The failure of LESSEE to pay the rent or any other charge five (5) days after receipt by LESSEE of written notice from LESSOR that such rent or other charge is due is hereafter called a "Rental Default". The failure of LESSEE to comply with any other covenant or rule or regulation which is to be performed or observed by LESSEE, is hereafter called an "Other Default". In the event Lessee defaults in case of a Rental Default. LESSOR may terminate this Lease. In the payment case of any an Other Default, LESSEE shall deliver up possession of the rentals Demised Premises if LESSOR gives LESSEE notice to cure such default or other sums provided to be paid hereunder which is not remedied within vacate the Demised Premises on or before a date at least fifteen (15) days after written the giving of the notice and LESSEE fails to cure such default accordingly. No act of LESSOR in terminating this Lease or recovering possession of the Demised Premises shall discharge LESSEE from payment of any rent reserved in this Lease for the term thereof and LESSEE shall remain liable for all of such default is given rent and all of the damages sustained by Lessor to Lessee and Lessee’s lenders as set forth in Schedule A; or, if Lessee defaults in LESSOR on account of the observance or performance of any other covenant, condition, agreement or provision hereof which is not remedied within thirty (30) days after written notice of such default is given by Lessor to Lessee and Lessee’s lenders as set forth on Schedule A (so long as Lessee’s right hereunder of remediation or cure of said default has not been excluded pursuant to the terms breach of this Lease by LESSEE. In case of a Rental Default or an Other Default, LESSOR, may, in addition to terminating this Lease); provided, howeveror in lieu thereof, that if accelerate all or any part of the rental payments and other charges, discounted at 7% per annum, becoming due under this Lease and/or pursue such default other remedy, or combination of remedies, and recover such other damages for breach of tenancy and/or contract as are available at law. If LESSEE fails to comply with an obligation which cannot be cured within said thirty (30) by the payment of money, LESSOR may, after the service of a 15-day period then notice, enforce the same by specific performance, mandatory injunction or other equitable relief. After the service of a notice or the commencement of a suit or after final judgment for possession of the Demised Premises, LESSOR may receive and collect any rent due and apply the same as and for use and occupancy, and the payment and receipt thereof shall not waive or affect any such thirty (30) day period notice, suit or judgment. LESSEE agrees that all of the covenants and agreements on the part of LESSEE in this Lease shall be extended by such time deemed to be conditions as is necessary for Lessee to effect such cure well as long as (i) Lessee or Lessee’s lenders are diligently prosecuting such curecovenants, and if LESSEE causes a Rental Default or Other Default, then LESSOR shall have the right to re-enter and take possession of the Demised Premises and remove or cause LESSEE to be removed from the Demised Premises in such manner as LESSOR may deem advisable. If at any time during the term of this Lease, LESSEE voluntarily or involuntarily (ii1) Lessee deserts or abandons the Demised Premises, (2) is adjudicated as bankrupt or insolvent, or (3) has a receiver appointed for all or substantially all of its business or assets on the ground of LESSEE'S insolvency, or (4) has a trustee appointed for it after a petition has been filed for LESSEE'S reorganization under the Bankruptcy Act of the United States or any of Lessee’s lenders deliver a written notice to Lessor prior to the expiration future law of the initial thirty (30) day period in which Lessee or any of Lessee’s lenders notify Lessor that it cannot cure United States having the default within such thirty (30) day period and Lessee or any of Lessee’s lenders represent to Lessor that they will diligently prosecute to cure such default; or, if Lessee becomes insolvent or bankrupt, conveys substantially all its assets, admits its inability to pay its debts as they maturesame general purpose, or (5) makes an a voluntary assignment for the benefit of creditorsits creditors (all of which are included in the definition herein of "Other Defaults"), or applies for or consents to the appointment of a trustee or receiver; or if a bankruptcy, reorganization, arrangement, insolvency, or liquidation proceeding, or other proceedings for relief under the bankruptcy law or similar law for the relief of debtors are instituted by or against Lessee; then, in any such event, Lessor LESSOR shall have the right, at LESSOR'S election, to give LESSEE notice of LESSOR'S intention to immediately terminate this Lease. In case of any breach or default by LESSEE followed by re-entry by LESSOR, or in case LESSEE shall be dispossessed for any cause by LESSOR or in the event that LESSOR shall obtain possession of the Demised Premises in any manner after any breach or default by LESSEE, rent shall be paid up to the time of such re-entry, dispossession or cessation of the term, and thereafter LESSOR shall have the right to call immediately due and payable, discounted at 7% per annum after due and payable, xxx for and recover all rents and other sums due or to become due hereunder, including damages arising out of any default on the part of LESSEE. Alternatively, LESSOR may relet the Demised Premises for a term or terms which may, at its LESSOR'S option, exceed the period which would otherwise have constituted the balance of the term of this Lease, and in such event LESSEE shall also pay to LESSOR any and all deficiency there may be between the rental and all other sums or payments to be paid by LESSEE as provided herein and the net amount of rentals and other sum or sums collected on account of Leases of the Demised Premises (after deducting from the gross receipts the expenses of every kind of LESSOR in connection with letting the Demised Premises, together with all attorney fees and also all other expenses, costs and payments which, in accordance with the terms of this Lease, would have been borne by LESSEE). Notwithstanding the termination of this Lease, the dispossession of LESSEE or the re-entry by LESSOR, the liability of LESSEE hereunder shall continue. LESSOR shall also have the right, without resuming possession of the Demised Premises or terminating this Lease, to call immediately due and payable, xxx for and recover all rents and other sums, including damages, at any time and from time to time accruing hereunder, subject to LESSOR'S obligation to mitigate damages. In addition to any and all other remedies, LESSOR may also restrain any threatened breach of any covenant, condition or agreement herein contained. The mention herein of and particular remedy or right shall not preclude LESSOR from any other remedy or right LESSOR might have either in law or equity, or by virtue of some other provisions of this Lease; nor shall consent to or waiver of one violation or default be a consent to or a waiver of a subsequent violation or default. Receipt by LESSOR of rent or other payment from LESSEE or from anyone other than LESSEE shall not be deemed to operate as a waiver of any right of LESSOR to enforce the payment by LESSEE of any rent or other payment previously due or which may thereafter become due or of any rights of LESSOR to terminate this Lease or to exercise any remedy or right which might otherwise be available to Lessor hereunder, or at law or LESSOR. LESSEE agrees to pay all costs reasonably incurred by LESSOR in equity, upon fifteen (15) days written prior notice to Lessee, exercise any one or more enforcing the terms of the following remedies without any further notice or demand:this Lease including all costs of collection plus reasonable attorneys' fees.

LESSEE'S DEFAULT. In the event A default under this Lease by Lessee defaults in the payment of shall exist if any of the rentals following occurs: (i) If Lessee fails to pay Monthly Rent or any other sums provided sum required to be paid hereunder which is not remedied when due: or (ii) If Lessee fails to perform any term covenant or condition of this Lease, except those requiring the payment of money, and Lessee fails to cure such breach within fifteen (15) days after written notice from Lessor where such breach could be reasonably cured within such fifteen (15) day period: provided, however, that where such failure could not reasonably be cured within the fifteen (15) day period, that Lessee shall not be in default if it commences such cure within the fifteen (15) day period and thereafter diligently prosecutes same to completion, which completion shall occur not later than sixty (60) days from the date of receipt of written notice of Lessors or (iii) If Lessee assigns its assets for the benefit of its creditors or (iv) If the sequestration or attachment of or execution on any material part of Lessee's personal property essential to the conduct of Lessee's business occurs, and Lessee fails to obtain a return or release of such default is given by Lessor to Lessee and Lessee’s lenders as set forth in Schedule A; or, if Lessee defaults in the observance or performance of any other covenant, condition, agreement or provision hereof which is not remedied personal property within thirty (30) days after written notice thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier; or (v) If Lessee fails to continuously or uninterruptedly conduct its business in the Demised Premises, or shall have abandoned or vacated the Demised Premises: or (vi) If a court makes or enters any decree or order other than under the bankruptcy laws of such default is given by Lessor the United States adjudging Lessee to be insolvent: or approving as properly filed a petition seeking reorganization of Lessee: or directing the winding up or liquidation of Lessee and Lessee’s lenders as set forth on Schedule A (so long as Lessee’s right hereunder such decree or order shall have continued for a period of remediation or cure of said default has not been excluded pursuant to the terms of this Lease); provided, however, that if such default cannot be cured within said thirty (30) day period then such thirty (30) day period shall be extended by such time as is necessary for Lessee to effect such cure as long as (i) Lessee or Lessee’s lenders are diligently prosecuting such cure, and (ii) Lessee or any of Lessee’s lenders deliver a written notice to Lessor prior to the expiration of the initial thirty (30) day period in which Lessee or any of Lessee’s lenders notify Lessor that it cannot cure the default within such thirty (30) day period and Lessee or any of Lessee’s lenders represent to Lessor that they will diligently prosecute to cure such default; or, if Lessee becomes insolvent or bankrupt, conveys substantially all its assets, admits its inability to pay its debts as they mature, or makes an assignment for the benefit of creditors, or applies for or consents to the appointment of a trustee or receiver; or if a bankruptcy, reorganization, arrangement, insolvency, or liquidation proceeding, or other proceedings for relief under the bankruptcy law or similar law for the relief of debtors are instituted by or against Lessee; then, in any such event, Lessor may, at its option, in addition to any other remedy available to Lessor hereunder, or at law or in equity, upon fifteen (15) days written prior notice to Lessee, exercise any one or more of the following remedies without any further notice or demand:days.

LESSEE'S DEFAULT. In the event Lessee defaults in the payment of any fails to pay all of the rentals rent hereby reserved when due, or other sums provided to be paid hereunder which is not remedied within fifteen should Lessee fail for a period of ten (1510) days after written notice of such default is given by Lessor to Lessee and Lessee’s lenders as set forth in Schedule A; orcomply with any of the other terms, if Lessee defaults in the observance covenants or performance of any other covenant, condition, agreement or provision hereof which is not remedied within thirty (30) days after written notice of such default is given by Lessor to Lessee and Lessee’s lenders as set forth on Schedule A (so long as Lessee’s right hereunder of remediation or cure of said default has not been excluded pursuant to the terms conditions of this Lease); provided, howeveror if Lessee shall abandon or vacate the Premises or any part thereof before the end of said Term, that or if such default cannot be cured within said thirty (30) day period then such thirty (30) day period Lessee shall be extended by such time as is necessary for Lessee adjudicated bankrupt or insolvent according to effect such cure as long as (i) Lessee or Lessee’s lenders are diligently prosecuting such cure, and (ii) Lessee or any of Lessee’s lenders deliver a written notice to Lessor prior to the expiration of the initial thirty (30) day period in which Lessee or any of Lessee’s lenders notify Lessor that it cannot cure the default within such thirty (30) day period and Lessee or any of Lessee’s lenders represent to Lessor that they will diligently prosecute to cure such default; or, if Lessee becomes insolvent or bankrupt, conveys substantially all its assets, admits its inability to pay its debts as they maturelaw, or makes shall make an assignment for the benefit of creditors, or applies in the event of an involuntary assignment or attachment on or levy on Lessee's interest herein, or in the event Lessee defaults under the Parking Lease herein referred to, then and in any of said cases, Lessor may lawfully enter upon the Premises or any part thereof and repossess the same as of the former estate of Lessor and expel Lessee and those claiming under and through Lessee, and remove Lessee's effects, without being deemed guilty of any manner of trespass, and without prejudice to any remedies which might otherwise be used for arrears of rent or consents breach of covenants, and upon entry as aforesaid, this Lease shall terminate. Notwithstanding such termination, Lessee shall remain liable for any rent and other expenses for which Lessee is responsible, and damages which may be due or sustained prior thereto, and all reasonable costs, professional fees and expenses incurred by Lessor in leasing the Premises to another tenant (including repair and remodeling of the Premises for such tenant), and the Lessee shall further be liable for liquidated damages equal to the appointment of a trustee or receiver; or if a bankruptcy, reorganization, arrangement, insolvency, or liquidation proceeding, or total rent and other proceedings expenses for relief which Lessee is responsible under the bankruptcy law terms of this Lease which, but for termination, would have become payable during the unexpired portion of the Term remaining at the time of such termination, less the amount of rent, if any, which Lessor may receive during such period from others to whom the Premises may be rented on such terms and conditions and at such rent as Lessor in Lessor's sole discretion, shall deem proper. If such termination shall take place after the expiration of two (2) or similar law more Lease Years of this Lease, then the Percentage Rent payable hereunder, if any, in each Lease Year after such termination, shall be conclusively presumed to be equal to the average Percentage Rent payable during such expired Lease Years. If such termination shall take place before the expiration of two (2) Lease Years of this Lease, then the Percentage Rent payable hereunder, if any, in each Lease Year after such termination shall be conclusively presumed to be equal to twelve (12) times the average monthly amount of Percentage Rent, based upon Gross Sales during each such month. Such liquidated damages shall be payable immediately upon termination of this Lease under this section, unless Lessor, in its sole discretion, elects to receive such liquidated damages at another time or payable in different intervals, including Lessor's right to demand the continuous payment of such rent monthly on the date set forth herein for the relief payment of debtors are instituted by or against Lessee; then, rent. The remedies provided in any such event, Lessor may, at its option, this Lease shall be cumulative and in addition to any other remedy available to those which Lessor hereunder, or might otherwise be entitled either at law or in equity, upon fifteen (15) days written prior notice to Lessee, exercise any one or more of the following remedies without any further notice or demand:.

LESSEE'S DEFAULT. In Each of the following shall be an event of default (“Event of Default”) hereunder: (A) if Lessee defaults in shall fail to pay any installment of Minimum Rent, Additional Rent or any other payment due under this Lease, and such failure shall continue for a period of five (5) business days following Lessor’s written notice of same to Lessee; (B) if Lessee or any guarantor or surety of Lessee’s obligations hereunder shall (i) make a general assignment for the payment benefit of creditors; (ii) commence any proceeding for relief, or seeking reorganization, arrangement, adjustment, liquidation, dissolution or composition of it or its debts or seeking appointment of a receiver, trustee, custodian or other similar official for it or for all or of any substantial part of its property; (iii) become the rentals or other sums provided to be paid hereunder subject of any such proceeding which is not remedied dismissed within fifteen ninety (1590) days after written notice its filing or entry; or (iv) die or suffer a legal disability (if Lessee, guarantor or surety is an individual) or be dissolved or otherwise fail to maintain its legal existence (if Lessee, guarantor or surety is a corporation, partnership or other entity); (C) Lessee shall fail to discharge or bond over any lien placed upon the Demised Premises in violation of such default is given by Lessor to Lessee and Lessee’s lenders as set forth in Schedule A; or, if Lessee defaults in the observance or performance of any other covenant, condition, agreement or provision hereof which is not remedied this Lease within thirty (30) days after Lessee receives notice that any such lien or encumbrance is filed against the Demised Premises; and (D) if Lessee shall fail to comply with any provision of this Lease, other than those specifically referred to hereinabove and, except as otherwise expressly provided therein, such default shall continue for more than thirty (30) days after Lessor shall have given Lessee written notice of such default is given by Lessor to Lessee and Lessee’s lenders as set forth on Schedule A (so long as Lessee’s right hereunder of remediation default, or cure of said default has not been excluded pursuant to the terms of this Lease); provided, however, that such longer period if such default cannot be reasonably cured within said thirty (30) day period then such thirty (30) day period shall be extended by such time as is necessary for Lessee to effect such cure as long as (i) Lessee or Lessee’s lenders are diligently prosecuting such cure, and (ii) Lessee or any of Lessee’s lenders deliver a written notice to Lessor prior to the expiration of the initial thirty (30) day period in which Lessee or any of Lessee’s lenders notify Lessor that it cannot cure the default within such thirty (30) day period, provided that Lessee diligently commences the cure within the thirty (30) day period and Lessee or any diligently prosecutes such cure to completion. Upon the occurrence of Lessee’s lenders represent to Lessor that they will diligently prosecute to cure such default; oran Event of Default, if Lessee becomes insolvent or bankruptdefined as aforesaid, conveys substantially all its assets, admits its inability to pay its debts as they mature, or makes an assignment for the benefit of creditors, or applies for or consents to the appointment of a trustee or receiver; or if a bankruptcy, reorganization, arrangement, insolvency, or liquidation proceeding, or other proceedings for relief under the bankruptcy law or similar law for the relief of debtors are instituted by or against Lessee; then, then in any such eventcase, notwithstanding any waiver or other indulgence of any prior default, Lessor maymay terminate this Lease by written notice to Lessee sent at any time thereafter, at its optionbut before Xxxxxx has cured or removed the cause for such termination. Such termination shall take effect on the later of (i) the last day of the month in which Xxxxxx receives the notice, in addition or (ii) twenty-one (21) days after Xxxxxx receives the notice, and shall be without prejudice to any other remedy available to Lessor hereunder, or at law or in equity, upon fifteen (15) days written might otherwise have for any prior notice to Lessee, exercise any one or more breach of the following remedies without any further notice or demand:covenant.

LESSEE'S DEFAULT. In the event Lessee defaults in the payment of any Each of the rentals following events shall be a default by Lessee and a breach of this Lease: Failure to timely and fully perform Lessee's obligations under Article 9 of this Lease or under the _______________________________________. Failure or refusal to pay when due the Rent as provided in Article 5 of this Lease. Failure or refusal to pay when due any other sums provided sum required by this Lease to be paid hereunder which by Lessee if such failure to pay is not remedied cured within fifteen twenty (1520) days after written notice of such default thereof is given provided to Lessee. Failure by Lessor Lessee to Lessee and Lessee’s lenders perform as set forth in Schedule A; or, if Lessee defaults in the observance or performance of required any other covenant, condition, agreement or provision hereof which obligation (other than the payment of a liquidated sum of money) of Lessee under this Lease and the same is not remedied cured within thirty (30) days after written notice of such default is given by failure from Lessor to Lessee and Lessee’s lenders as set forth on Schedule A (so long as Lessee’s right hereunder of remediation or cure of said default has not been excluded pursuant to the terms of this Lease); provided, howeverthat, that if such default is of a nature that cannot reasonably be expected to be cured within said thirty (30) day period days, then for such longer time as may be reasonably necessary so long as Lessee commences the cure within said thirty (30) day period shall be extended days and thereafter diligently prosecutes the same to completion. The taking by such time as is necessary for Lessee to effect such cure as long as (i) Lessee or Lessee’s lenders are diligently prosecuting such cure, and (ii) Lessee or any execution of Lessee’s lenders deliver a written notice to Lessor prior to the expiration of the initial thirty (30) day period in which Lessee or any of Lessee’s lenders notify Lessor that it cannot cure the default within such thirty (30) day period and Lessee or any of Lessee’s lenders represent to Lessor that they will diligently prosecute to cure such default; or, if Lessee becomes insolvent or bankrupt, conveys substantially all its assets, admits its inability to pay its debts as they mature, or makes an assignment 's leasehold estate for the benefit of creditorsany person other than a Lender or purchaser at a foreclosure under a Mortgage. The filing of a petition for relief against Lessee, as debtor, under the Federal Bankruptcy Code (the "Code"), as now or hereafter constituted, or applies any other applicable federal or state law of similar import, or the entry of a decree or order by a court having jurisdiction over the Premises, appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator, or other similar official of or for Lessee or consents any substantial part of the properties of Lessee or ordering the winding up or liquidation of the affairs of Lessee, and the continuance of any such decree or order unstayed and in effect for a period of ninety (90) consecutive days. The commencement by Lessee of a voluntary case under the Code, as now or hereafter constituted, or any other applicable federal or state law of similar import, or the consent or acquiescence by Lessee to the commencement of a case under the Code or such law or to the appointment of or taking possession by a trustee or custodian, receiver; or if a bankruptcy, reorganizationliquidator, arrangementassignee, insolvencytrustee, or liquidation proceedingsequestrator, or other proceedings similar official of or for relief under the bankruptcy law Lessee or similar law for the relief of debtors are instituted by or against Lessee; then, in any such event, Lessor may, at its option, in addition to any other remedy available to Lessor hereunder, or at law or in equity, upon fifteen (15) days written prior notice to Lessee, exercise any one or more substantial part of the following remedies without any further notice or demand:property of Lessee.

LESSEE'S DEFAULT. In the event case Lessee defaults in the payment shall fail to pay any installment of rent or any of the rentals tax, assessment, water rent or other sums provided to be paid hereunder which is not remedied within fifteen sewer rent for (1510) days after written notice of such default from Lessor that the same is given by Lessor due and payable, or to Lessee and Lessee’s lenders as set forth in Schedule A; or, if Lessee defaults in the observance or performance of pay any other covenantadditional rent or to comply with any of the other terms, conditioncovenants, agreement conditions or provision hereof which is not remedied within obligations of this Lease for thirty (30) days after written notice from Lessor or the agent or attorney of Lessor, then Lessor, at the option of Lessor, may cancel and terminate this Lease, as well as all of the right, title and interest of Lessee hereunder, by giving to Lessee not less than five (5) day's notice of such default is given by Lessor to Lessee cancellation and Lessee’s lenders as set forth on Schedule A (so long as Lessee’s right hereunder of remediation or cure of said default has not been excluded pursuant to the terms of this Lease); provided, however, that if such default cannot be cured within said thirty (30) day period then such thirty (30) day period shall be extended by such time as is necessary for Lessee to effect such cure as long as (i) Lessee or Lessee’s lenders are diligently prosecuting such curetermination, and (ii) Lessee or any of Lessee’s lenders deliver a written notice to Lessor prior to upon the expiration of the initial thirty (30) day period time fixed in such notice this Lease and the term hereof, as well as all of the right, title and interest of Lessee hereunder, shall expire in the same manner and with the same force and effect, except as to Lessee's liability, as if the expiration of the time fixed in such notice of cancellation and termination were the end of the term originally demised; and Lessor may re-enter upon the leased premises either with or without process of law, and remove all persons therefrom. Lessee expressly agrees that the exercise by Lessor of the right to terminate this Lease shall not be a bar to or prejudice in any way any other legal remedies available to Lessor. In the event of any such failure by Lessee to pay or to comply as aforesaid, in which case each such failure shall be a default hereunder by Lessee and a breach of this Lease, Lessor shall 9 immediately and ipso facto, notwithstanding any other provisions of this Lease to the contrary and without any notice or other action by Lessor, become entitled to recover from Lessee, and Lessee shall pay to Lessor, as liquidated damages for such breach the sum of (a) 25% of Lessor's Cost (as specified in Schedule A hereto) discounted at the rate of 5% per annum from April 30, 2003 to the date of such breach and (b) all rent and other sums payable hereunder due and payable to the date of such breach, together with a sum equal to the amount by which the rent and additional rent reserved hereunder from the date of such breach to the date of expiration of the term of this Lease exceeds the fair and reasonable rental value of the leased premises for the same period, both discounted to the date of such breach at the rate of five per cent (5%) per annum. Such accrued rent and damages shall become due and payable to Lessor immediately upon such breach and without regard to whether this Lease be terminated or not, and if this Lease be terminated, without regard to the manner in which it shall be terminated. In determining the fair and reasonable rental value of the leased premises, the rental realized by any reletting, if any reletting be accomplished by Lessor before presentation of proof of such liquidated damages shall be required, shall be deemed prima facie to be the fair and reasonable rental value of the leased premises or the portion thereof so relet, as the case may be. If and so long as the term of this Lease shall continue, the rent reserved herein for the unexpired term of this Lease after any such breach shall be reduced by the amount of such liquidated damages as may be paid to Lessor, such reduction being applied proportionately to each instalment of rent and additional rent thereafter becoming due. During the continuance of this Lease after such a breach and until such damages shall have been paid to Lessor, the whole amount of each instalment of rent and additional rent herein reserved shall be due and payable at the time herein specified, and if by reason of the subsequent payment of liquidated damages, and the resulting reduction in rental, Lessor shall have received a sum in excess of all instalments as so reduced, becoming due after the breach and before the collection of such damages, such excess shall be refunded to Lessee upon the receipt of such liquidated damages. If Lessor shall so re-enter, Lessor may repair and alter the leased premises in such manner as to Lessor may seem necessary or advisable, and/or let or relet the leased premises or any parts thereof for the whole or any part of the remainder of the term herein originally leased or for a longer period, in Lessee's name, or as the agent of Lessee, and out of any rent so collected or received Lessor shall: first, pay to itself the cost and expense of retaking, repossessing, repairing and/or altering the leased premises, and the cost and expense of removing all persons and property therefrom; second, pay to itself the cost and expenses sustained in securing any new tenants, and if Lessor shall maintain and operate the leased premises, the cost and expense of operating and maintaining the leased premises; and, third, pay to itself any balance remaining on account of the liability of Lessee to Lessor for the sum equal to all rent and additional rent reserved herein and unpaid by Lessee for the remainder of the term herein originally leased. Any entry or re-entry by Lessor, whether had or taken under summary proceedings or otherwise, shall not absolve or discharge Lessee from liability hereunder. Should any rent so collected by Lessor after the aforementioned payments be insufficient fully to pay to Lessor a sum equal to all such rent and additional rent reserved herein, the balance or deficiency shall be paid by Lessee on the rent days herein specified, that is, upon each of such rent days Lessee shall pay to Lessor the amount of the deficiency then existing; and Lessee shall be and remain liable for any such deficiency, and the right of Lessor to recover from Lessee the amount thereof, or a sum equal to all such rent and additional rent reserved herein, if there shall be no reletting, shall survive the issuance of any dispossessory warrant or other cancellation or termination hereof; and Lessee hereby expressly waives any defense that might be predicated upon the issuance of such dispossessory warrant or other cancellation or termination hereof. Suit or suits for the recovery of such deficiency or damages, or for a sum equal to any instalment or instalments of rent and additional rent hereunder, may be brought by Lessor, from time to time at Lessor's election, in each case at Lessee's expense (including reasonable attorneys' fees), and nothing hereing contained shall be deemed to require Lessor to await the date whereon this Lease or the term hereof would have expired by limitation had there been no such default by Lessee or any of Lessee’s lenders notify Lessor that it cannot cure the default within no such thirty (30) day period and Lessee cancellation or any of Lessee’s lenders represent to Lessor that they will diligently prosecute to cure such default; or, if Lessee becomes insolvent or bankrupt, conveys substantially all its assets, admits its inability to pay its debts as they mature, or makes an assignment for the benefit of creditors, or applies for or consents to the appointment of a trustee or receiver; or if a bankruptcy, reorganization, arrangement, insolvency, or liquidation proceeding, or other proceedings for relief under the bankruptcy law or similar law for the relief of debtors are instituted by or against Lessee; then, in any such event, Lessor may, at its option, in addition to any other remedy available to Lessor hereunder, or at law or in equity, upon fifteen (15) days written prior notice to Lessee, exercise any one or more of the following remedies without any further notice or demand:termination.

LESSEE'S DEFAULT. In the event Lessee defaults in the payment The occurrence of any one of the rentals following events constitutes a default by the Lessee and a breach of this Lease and its covenants by the Lessee, if such default, breach or other sums provided to be paid hereunder which non performance is continued and not remedied cured within fifteen ten (1510) days after written notice from Lessor: (a) The vacating or abandonment of such default is given the Premises by Lessor Lessee, or the failure of the Lessee to Lessee be open for business and Lessee’s lenders for the conduct of business as set forth in Schedule A; or, if Lessee defaults described in the observance Use Clause Article found in this Lease, (b) The failure by Lessee to make any payment of Rent, Additional Rent and/or adjustments on or performance before the due date thereof, (c) The failure by Lessee to perform any covenants herein or the breach by Lessee of any Lease covenants herein, other covenantthan those described in this section, conditionand the further failure by Lessee to cure such covenant breach or non-performance, agreement or provision hereof which is not remedied within thirty (30) days after written notice of such default is given by Lessor to Lessee commence to cure and Lessee’s lenders as set forth on Schedule A (so long as Lessee’s right hereunder of remediation or diligently pursue the cure of said default has not been excluded pursuant to the terms of this Lease); provided, however, that if such default covenant breach or non-performance which cannot be cured fully remedied within said thirty ten (3010) day period then such thirty days, (30d) day period shall be extended Petition by such time as is necessary Lessee for Lessee to effect such cure as long as (i) Lessee or Lessee’s lenders are diligently prosecuting such curebankruptcy, and (ii) Lessee or any of Lessee’s lenders deliver a written notice to Lessor prior to the expiration of the initial thirty (30) day period in which Lessee or any of Lessee’s lenders notify Lessor that it cannot cure the default within such thirty (30) day period and Lessee or any of Lessee’s lenders represent to Lessor that they will diligently prosecute to cure such default; or, if Lessee becomes insolvent or bankrupt, conveys substantially all its assets, admits its inability to pay its debts as they matureinsolvency, or makes an general assignment for the benefit of its creditors, or applies receiver appointment for or consents to Lessee for the appointment substantial part of a trustee or receiver; or if a bankruptcyits assets and properties and such receiver is not removed with ten (10) days after its appointment, reorganization, arrangement, insolvency(e) If the Lessee shall default as described in this section, or liquidation proceedingin the performance of any covenant contained in this Lease, or other proceedings for relief under and if such default is repeated once within the bankruptcy law or similar law for the relief of debtors are instituted by or against Lessee; next twelve months then, in any notwithstanding that such eventdefaults shall have been cured within the period after notice as herein provided, Lessor may, at its option, in addition to any other remedy available to Lessor hereunder, or at law or in equity, upon fifteen (15) days written prior notice to Lessee, exercise any one or more of the following remedies without any further notice or demand:similar default within such twelve month period shall be deemed a Lessee Default which cannot be cured, notwithstanding provisions for cure provided in this Lease. Upon such default, the Lessor may proceed, with five

LESSEE'S DEFAULT. In the event Lessee defaults in the payment of any of the rentals or other sums provided to be paid hereunder which is not remedied within fifteen (15) days after written notice of such default is given by Lessor to Lessee and Lessee’s lenders as set forth in Schedule A; or, if Lessee defaults in the observance or performance of any other covenant, condition, agreement or provision hereof which is not remedied within thirty (30) days after written notice of such default is given by Lessor to Lessee and Lessee’s lenders as set forth on Schedule A (so long as Lessee’s right hereunder of remediation or cure of said default has not been excluded pursuant to the terms of this Lease); provided, however, that if such default cannot be cured within said thirty (30) day period then such thirty (30) day period shall be extended by such time as is necessary for Lessee to effect such cure as long as (i) Lessee or Lessee’s lenders are diligently prosecuting such cure, and (ii) Lessee or any of Lessee’s lenders deliver a written notice to Lessor prior to the expiration of the initial thirty (30) day period in which Lessee or any of Lessee’s lenders notify Lessor that it cannot cure the default within such thirty (30) day period and Lessee or any of Lessee’s lenders represent to Lessor that they will diligently prosecute to cure such default; or, if Lessee becomes insolvent or bankrupt, conveys substantially all its assets, admits its inability to pay its debts as they mature, or makes an assignment for the benefit of creditors, or applies for or consents to the appointment of a trustee or receiver; or if a bankruptcy, reorganization, arrangement, insolvency, or liquidation proceeding, or other proceedings for relief under the bankruptcy law or similar law for the relief of debtors are instituted by or against Lessee; then, in any such event, Lessor may, at its option, upon fifteen (15) days notice to Lessee, in addition to any other remedy available to Lessor hereunder, or at law or in equity, upon fifteen (15) days written prior notice to Lessee, exercise any one or more of the following remedies without any further notice or demand:

LESSEE'S DEFAULT. In The occurrence of any one or more of the event following events shall constitute a default and breach of this Lease by Lessee defaults in (each, an “Event of Default”): (i) the abandonment of the Premises by Lessee; (ii) the failure or refusal of Lessee to take delivery of the Premises pursuant to Section 1.3 hereof; (iii) the failure or refusal of Lessee to make any payment of Base Rent, Additional Rent or any of the rentals or other sums provided payment required to be paid hereunder which is not remedied within fifteen made by Lessee hereunder, as and when due where such failure shall continue for a period of five (155) days after written notice of such default is given by thereof from Lessor to Lessee; provided, however, Lessor shall have no obligation to deliver written notice for a failure to pay more than once during any twelve (12) month period; (iv) the failure by Lessee and to observe or perform any of the other covenants, conditions or provisions of this Lease, including any Exhibit of this Lease, to be observed or performed by Lessee’s lenders as set forth in Schedule A; or, if Lessee defaults in the observance or performance where such failure shall continue for a period of any other covenant, condition, agreement or provision hereof which is not remedied within thirty (30) days after written notice of such default is given by thereof from Lessor to Lessee and Lessee’s lenders as set forth on Schedule A (so long as Lessee’s right hereunder of remediation or cure of said default has not been excluded pursuant to the terms of this Lease); provided, however, that if the nature of the Event of Default is such default canthat more than thirty (30) days are reasonably required for its cure, then Lessee shall not be cured deemed to be in default if Lessee commences such cure within said thirty (30) day period then such thirty (30) day period shall be extended by such time as is necessary for Lessee to effect and thereafter diligently prosecutes such cure as to completion; (v) Lessee violates the provisions of Section 13 or Section 15; provided, in the case of a violation of Section 13, such violation shall not constitute an Event of Default unless such violation continues for a period of three (3) business days after written notice thereof from Lessor to Lessee; (vi) Lessee's Charter is revoked or terminated, provided that it shall not be an Event of Default if Lessee receives a notice of revocation or probation with respect to its Charter so long as Lessee takes all action necessary to prevent the Charter from being revoked and keeps Lessor continually advised of its progress in causing the notice of revocation or probation to be withdrawn and the Charter to remain in full force and effect; (ivii) any representation or warranty made by Lessee herein or Lessee’s lenders are diligently prosecuting such curein any certificate, and (ii) Lessee financial statement or any of Lessee’s lenders deliver a written notice to Lessor prior document furnished pursuant to the expiration provision hereof shall prove to have been false or misleading in any material respect as of the initial thirty time made or furnished; (30viii) day period in which Lessee or any of Lessee’s lenders notify Lessor that it cannot cure the default within such thirty (30) day period and Lessee or any of Lessee’s lenders represent to Lessor that they will diligently prosecute to cure such default; or, if Lessee becomes insolvent or bankrupt, conveys substantially all its assets, (a) admits in writing its inability to pay its debts generally as they become due, (b) commences any case, proceeding or other action seeking to have an order for relief entered on its behalf as debtor or to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, liquidation, dissolution or composition of it or its debts under any federal, state or local law relating to bankruptcy, insolvency, reorganization or relief of debtors, (c) makes an assignment for the benefit of its creditors, (d) is generally unable to pay its debts as they mature, or makes an assignment for the benefit of creditors, or applies for (e) seeks or consents to the appointment of a trustee receiver of itself or receiverof the whole or any substantial Part of its property, or (f) files a petition or answer seeking reorganization or arrangement under an order or decree appointing, without the consent of Lessee, a receiver of Lessee of the whole or substantially all of its property, and such case, proceeding or other action is not dismissed or stayed within ninety (90) days after the commencement thereof; or (ix) if a bankruptcy, reorganization, arrangement, insolvency, the estate or liquidation proceeding, interest of Lessee in the Premises or other proceedings for relief under the bankruptcy law any of them or similar law for the relief of debtors are instituted by any part thereof is levied upon or against Lessee; then, attached in any such event, Lessor may, at its option, in addition to any other remedy available to Lessor hereunder, proceeding and the same is not vacated or at law discharged or in equity, upon fifteen stayed within the later of ninety (1590) days written prior after commencement thereof or thirty (30) days after receipt by Lessee of notice thereof from Lessor (unless Lessee is contesting such lien or attachment in accordance with this Lease). Notwithstanding anything to the contrary contained in this Lease, Lessee, exercise any one or more 's cure period under this Lease shall not exceed Lessor's corresponding cure period under Section 19.4 of the following remedies without any further notice or demand:this Lease.

LESSEE'S DEFAULT. In the event Lessee defaults in the payment The occurrence of any one of the rentals following events constitutes a default by the Lessee and a breach of this Lease and its covenants by the Lessee, if such default, breach or other sums provided to be paid hereunder which non performance is continued and not remedied cured within fifteen ten (1510) days after written notice from Lessor: (a) The vacating or abandonment of such default is given the Properties by Lessor Lessee, (b) The failure by Lessee to make any payment of Base Rent and/or Additional Rent Charges and adjustments on or before the due date thereof, (c) The failure by Lessee and Lessee’s lenders as set forth in Schedule A; or, if to perform any covenants herein or the breach by Lessee defaults in the observance or performance of any other covenantLease covenants herein, conditionand the further failure by Lessee to cure such covenant breach or non-performance, agreement or provision hereof which is not remedied within thirty (30) days after written notice of such default is given by Lessor to Lessee commence to cure and Lessee’s lenders as set forth on Schedule A (so long as Lessee’s right hereunder of remediation or diligently pursue the cure of said default has not been excluded pursuant to the terms of this Lease); provided, however, that if such default covenant breach or non-performance which cannot be cured fully remedied within said thirty ten (3010) day period then such thirty days, (30d) day period shall be extended Petition by such time as is necessary Lessee for Lessee to effect such cure as long as (i) Lessee or Lessee’s lenders are diligently prosecuting such curebankruptcy, and (ii) Lessee or any of Lessee’s lenders deliver a written notice to Lessor prior to the expiration of the initial thirty (30) day period in which Lessee or any of Lessee’s lenders notify Lessor that it cannot cure the default within such thirty (30) day period and Lessee or any of Lessee’s lenders represent to Lessor that they will diligently prosecute to cure such default; or, if Lessee becomes insolvent or bankrupt, conveys substantially all its assets, admits its inability to pay its debts as they matureinsolvency, or makes an general assignment for the benefit of its creditors, or applies receiver appointment for or consents to Lessee for the appointment substantial part of a trustee or receiver; or if a bankruptcyits assets and properties and such receiver is not removed with ten (10) days after its appointment, reorganization, arrangement, insolvency(e) If the Lessee shall default as described herein, or liquidation proceedingin the performance of any covenant contained in this Lease, or other proceedings for relief under and if such default is repeated once within the bankruptcy law or similar law for the relief of debtors are instituted by or against Lessee; next twelve months then, in any notwithstanding that such eventdefaults shall have been cured within the period after notice as herein provided, Lessor may, at its option, in addition to any other remedy available to Lessor hereunder, or at law or in equity, upon fifteen (15) days written prior notice to Lessee, exercise any one or more of the following remedies without any further similar default within such twelve month period shall be deemed a Lessee Default which cannot be cured, notwithstanding provisions for cure provided in this Lease. Upon such default, the Lessor may proceed, with five days notice or demand:but no opportunity for cure, to exercise its remedies upon default.