Common use of Other Rights upon Material Breach; Ownership of Assets and Repayment of Obligations on Termination Clause in Contracts

Other Rights upon Material Breach; Ownership of Assets and Repayment of Obligations on Termination. (a) Upon the occurrence of any Material Breach or upon the occurrence of any event or circumstance which with the giving of notice or the passage of time or both would constitute a Material Breach, Lakes may suspend its obligation to make any Minimum Guaranteed Payment Advances, until such time as the default has been cured. Upon the occurrence of any Material Breach, Lakes may suspend its obligation to make any Working Capital Advances until such time as the Material Breach has been cured.

Other Rights upon Material Breach; Ownership of Assets and Repayment of Obligations on Termination. (a) Upon the occurrence of any Material Breach or upon the occurrence of any event or circumstance which with the giving of notice or the passage of time or both would constitute a Material Breach, Lakes the Manager may suspend its obligation to make any Minimum Guaranteed Payment Advances, until such time as the default has been cured. Upon the occurrence of any Material Breach, Lakes the Manager may suspend its obligation to make any Working Capital Advances until such time as the Material Breach has been cured.