Common use of Lessor’s Remedies for a Lessee Event of Default Clause in Contracts

Lessor’s Remedies for a Lessee Event of Default. Upon the occurrence and during the continuance of a Lessee Default, Lessor may give Lessee written notice of Lessor’s intention to terminate this Lease as a result of such Lessee Event of Default (except for the terms and provisions hereof which survive termination) on a date specified in such notice (which date shall be no sooner than ten (10) days after the date of the notice), in which case, upon the date therein specified, the Term and the estate hereby granted shall expire and terminate as if such date were the date hereinabove fixed for the expiration of the Term except the terms and provisions hereof which survive the Term. Upon such termination, Lessee shall surrender possession of the Leased Property to Lessor and Lessor may (i) take possession of the same on the termination date without being deemed guilty in any manner of trespass or becoming liable for any loss or damage resulting therefrom, without resort to legal or judicial process, procedure or action, and (ii) substitute a replacement operator to operate the Terminal System. In addition to the foregoing right to terminate this Lease, and without being obligated to terminate this Lease and without limiting any other rights or remedies that may be available to Lessor as a result of a Lessee Default, Lessor shall be entitled to the following remedies, and may bring an action against Lessee, for any or all of the following:

Lessor’s Remedies for a Lessee Event of Default. Upon the occurrence and during the continuance of a Lessee Default, Lessor may give Lessee written notice of Lessor’s intention to terminate this Lease as a result of such Lessee Event of Default (except for the terms and provisions hereof which survive termination) on a date specified in such notice (which date shall be no sooner than ten (10) days after the date of the notice), in which case, upon the date therein specified, the Term and the estate hereby granted shall expire and terminate as if such date were the date hereinabove fixed for the expiration of the Term except the terms and provisions hereof which survive the Term. Upon such termination, Lessee shall surrender possession of the Leased Property to Lessor and Lessor may (i) take possession of the same on the termination date without being deemed guilty in any manner of trespass or becoming liable for any loss or damage resulting therefrom, without resort to legal or judicial process, procedure or action, and (ii) substitute a replacement operator to operate the Terminal System. In addition to the foregoing right to terminate this Lease, and without being obligated to terminate this Lease and without limiting any other rights or remedies that may be available to Lessor as a result of a Lessee Default, Lessor shall be entitled to the following remedies, and may bring an action against Lessee, for any or all of the following:of