Common use of REMEDIES IN THE EVENT OF DEFAULT Clause in Contracts

REMEDIES IN THE EVENT OF DEFAULT. (a) The following shall constitute an "Event of Default" hereunder: (i) Tenant fails to make payment of any installment of Rent or any Additional Rent or other sum payable by Tenant hereunder within ten (10) days after receipt of written notice of non-payment or (ii) Tenant fails to promptly or fully perform any other provision of this Lease on Tenant's part to be performed and fails to cure such failure within thirty (30) days after receipt of written notice, or if such breach cannot be cured within such thirty (30) day period, such longer period of time as may be reasonably required. Upon the occurrence of an Event of Default, Landlord shall have the option to pursue any one of the following remedies: (i) Terminate this Lease and re-enter and retake possession by legal process, and declare immediately due and payable the entire amount of the Rent then remaining to be paid under this Lease for the balance of the lease term, adjusted to present value at six percent (6%) per annum, less the fair rentable value of the Premises for the balance of the term also adjusted to present value at the rate of six percent (6%) per annum; or (ii) Terminate Tenant's right of possession without terminating this Lease and re-enter and retake possession by legal process, expel Tenant and remove all property therefrom and re-let the Premises for the Tenant's account and receive the rent therefrom. Landlord shall make reasonable efforts to re-let the premises to a responsible tenant at the best possible rent. Tenant shall thereafter be obligated to pay to Landlord an amount equal to the rent due under this Lease for the remaining term, less the amount of any rent from any substitute tenant, together with the Landlord's costs of re-letting including, without limitation, the alterations, redecorating and reasonable and customary real estate broker's fees and commissions. For purposes of this remedy, the parties agree that the statute of limitations for the Landlord's recovery of rent from Tenant shall not begin to run until the expiration of the original term of this Lease. No waiver by Landlord of any violation or breach of any of the terms, provisions and covenants of this Lease shall be deemed or construed to constitute a waiver of any other violation or breach of any of the terms, provisions and covenants herein contained. Forbearance by Landlord to enforce one or more of the foregoing remedies provided upon an event of default by Tenant shall not be deemed or construed to constitute a waiver of such default or the ability to select which remedy Landlord desires. If landlord incurs reasonable expense, including court costs and attorney fees, as a result of a default by Tenant under this Lease, and pursues one of the remedies set forth above, then such expenses shall be reimbursed by Tenant as Additional Rent, whether or not such default is subsequently cured. (b) If Tenant shall fail to make any payment or perform any act required to be made or performed under this Lease, Landlord, without waiving or releasing any obligation or default, may (but shall be under no obligation to), at any time, and upon reasonable notice to Tenant, make the payment or perform the act for the account of and at the expense of Tenant, and may enter upon the Premises for that purpose and take all actions as may be necessary to correct Tenant's breach. No such entry shall be deemed an eviction of Tenant. All sums so paid by Landlord and all costs and expenses (including, but not limited to, reasonable attorneys' fees and expenses) so incurred, together with interest at the rate of 2% per annum in excess of the prime rate of interest as announced from time to time by The Wall Street Journal from the date of payment, shall constitute additional rent and shall be paid by Tenant to Landlord on demand. (c) In the event Landlord is in default under the terms of this Lease, Tenant may provide written notice of such default to Landlord. Upon the expiration of thirty (30) days following the giving of such notice, if Landlord (i) has failed to cure such default or (ii) in the case of a default (other than the payment of money) which by its nature cannot be completely cured within such thirty (30) day period, Landlord does not within such period commence to cure the default, and diligently pursue and complete the cure in a reasonable period of time, then in either such event Tenant may do all things necessary or desirable to remedy such default and perform the obligations of Landlord which have not been fully or properly performed. Landlord shall immediately upon demand reimburse Tenant for all costs and expenses incurred by Tenant in connection with the foregoing plus interest at the rate set forth in Section 19(b) above and, in addition, if Landlord fails to make such payment within thirty (30) days of Tenant's written demand, Tenant may set off the amount of all costs and expenses incurred by Tenant in connection with the foregoing, plus interest at the rate defined in this Section against rent payment coming due under this Lease, and if at the end of the Term, extend the Lease for a period sufficient to recover such amount. (d) The aforementioned thirty (30) day period of time permitted for Landlord to cure its default and the periods of time permitted for Tenant to cure defaults hereunder shall be extended if the default cannot be cured within the time period allowed herein, so long as such party is diligently and continuously attempting to cure. The cure periods shall also be extended for any period of time during which the defaulting party is delayed in, or prevented from, curing due to fire or other casualty, or acts of God, strikes, lockouts, power shortages or outages, enactment, adoption, or promulgation of new laws, or the application or enforcement of laws. Notwithstanding the foregoing, there shall be no extended period in which to cure a monetary default.

REMEDIES IN THE EVENT OF DEFAULT. (a) The following shall constitute an "Event of Default" hereunder: (i) Tenant fails to make payment In the event of any installment breach of Rent or any Additional Rent or other sum payable this Lease by Tenant hereunder Lessee which shall not have been cured within ten (10) days after receipt of written Lessee shall have received notice of non-payment such breach in the case of a breach of a monetary obligation to Lessor, or (ii) Tenant fails to promptly or fully perform any other provision of this Lease on Tenant's part to be performed and fails to cure such failure within thirty (30) days after receipt Lessee shall have received notice of written noticesuch breach in the case of a breach of any other obligation to Lessor (provided, or however, if such non-monetary breach cannot reasonably be cured within such thirty (30) day period, then such longer ten (10) day period of time as may shall be extended for a period reasonably required. Upon the occurrence of an Event of Defaultsufficient to allow Lessee to cure such breach, Landlord if within such initial thirty (30) day period Lessee shall have commenced to cure such breach and shall thereafter continue its efforts with due diligence), then, at Lessor's option and without limiting Lessor in the option to pursue exercise of any one other rights or remedies which Lessor may have at law or in equity by reason of such breach, Lessor, with or without notice or demand, may: (a) Without terminating this Lease, re-enter the Premises and take possession of the following remediessame, and expel or remove Lessee and all other parties occupying the Premises, and at any time and from time to time re-let the Premises or any part thereof for the account of lessee, for such term, upon such conditions and at such rent as Lessor may deem reasonably proper. In such event, Lessor may receive and collect the rent from such re-letting and apply it against any amounts due from lessee hereunder (including, without limitation, such expenses as Lessor may have incurred in recovering possession of the Premises, placing the same in good order and condition, altering or repairing the same for re-letting, and all other expenses, commission and charges, including reasonable attorneys' fees, which Lessor may have paid or incurred in connection with such repossession and re-letting). Whether or not the Premises are re-let, Lessee shall pay to Lessor all amounts required to be paid by Lessee up to the date of Lessor's reentry, and thereafter Lessee shall pay to Lessor, until the end of the term hereof, the amount of all rent and other charges required to by paid by Lessee hereunder, less the proceeds of such re-letting as provided above. Such payments by Lessee shall be due at such times as are provided elsewhere in this Lease. Lessor shall not be deemed to have terminated this Lease or the liability of Lessee for the total rent hereunder, by any re-entry or other act, unless Lessor shall give Lessee written notice of Lessor's election to terminate this Lease. (b) Terminate this Lease by giving written notice to Lessee of Lessor's election to so terminate, re-enter the Premises and take possession of the same, and expel or remove Lessee and all other parties occupying the Premises. In such event, Lessor shall thereupon be entitled to recover from Lessee: (i) Terminate this Lease and re-enter and retake possession any unpaid rent which had been earned at the time of such termination; plus (ii) the amount by legal process, and declare immediately due and payable which (A) the entire amount of the Rent then remaining to be paid under this Lease for the balance of the lease term, adjusted to present value at six percent (6%) per annum, less the fair rentable value of the Premises unpaid rent for the balance of the term also adjusted to present value at after the rate time of six percent termination exceeds (6%B) per annum; or (ii) Terminate Tenant's right of possession without terminating this Lease and re-enter and retake possession by legal process, expel Tenant and remove all property therefrom and re-let the Premises for the Tenant's account and receive the rent therefrom. Landlord shall make reasonable efforts to re-let the premises to a responsible tenant at the best possible rent. Tenant shall thereafter be obligated to pay to Landlord an amount equal to the rent due under this Lease for the remaining term, less the amount of any rent from any substitute tenant, together with the Landlord's costs of re-letting including, without limitation, the alterations, redecorating and reasonable and customary real estate broker's fees and commissions. For purposes of this remedy, the parties agree such rental loss that the statute of limitations for the Landlord's recovery of rent from Tenant shall not begin to run until the expiration of the original term of this Lease. No waiver by Landlord of any violation or breach of any of the terms, provisions and covenants of this Lease shall Lessee proves could be deemed or construed to constitute a waiver of any other violation or breach of any of the terms, provisions and covenants herein contained. Forbearance by Landlord to enforce one or more of the foregoing remedies provided upon an event of default by Tenant shall not be deemed or construed to constitute a waiver of such default or the ability to select which remedy Landlord desires. If landlord incurs reasonable expense, including court costs and attorney fees, as a result of a default by Tenant under this Lease, and pursues one of the remedies set forth above, then such expenses shall be reimbursed by Tenant as Additional Rent, whether or not such default is subsequently curedreasonably avoided. (b) If Tenant shall fail to make any payment or perform any act required to be made or performed under this Lease, Landlord, without waiving or releasing any obligation or default, may (but shall be under no obligation to), at any time, and upon reasonable notice to Tenant, make the payment or perform the act for the account of and at the expense of Tenant, and may enter upon the Premises for that purpose and take all actions as may be necessary to correct Tenant's breach. No such entry shall be deemed an eviction of Tenant. All sums so paid by Landlord and all costs and expenses (including, but not limited to, reasonable attorneys' fees and expenses) so incurred, together with interest at the rate of 2% per annum in excess of the prime rate of interest as announced from time to time by The Wall Street Journal from the date of payment, shall constitute additional rent and shall be paid by Tenant to Landlord on demand. (c) In the event Landlord is in default under the terms of this Lease, Tenant may provide written notice of such default to Landlord. Upon the expiration of thirty (30) days following the giving of such notice, if Landlord (i) has failed to cure such default or (ii) in the case of a default (other than the payment of money) which by its nature cannot be completely cured within such thirty (30) day period, Landlord does not within such period commence to cure the default, and diligently pursue and complete the cure in a reasonable period of time, then in either such event Tenant may do all things necessary or desirable to remedy such default and perform the obligations of Landlord which have not been fully or properly performed. Landlord shall immediately upon demand reimburse Tenant for all costs and expenses incurred by Tenant in connection with the foregoing plus interest at the rate set forth in Section 19(b) above and, in addition, if Landlord fails to make such payment within thirty (30) days of Tenant's written demand, Tenant may set off the amount of all costs and expenses incurred by Tenant in connection with the foregoing, plus interest at the rate defined in this Section against rent payment coming due under this Lease, and if at the end of the Term, extend the Lease for a period sufficient to recover such amount. (d) The aforementioned thirty (30) day period of time permitted for Landlord to cure its default and the periods of time permitted for Tenant to cure defaults hereunder shall be extended if the default cannot be cured within the time period allowed herein, so long as such party is diligently and continuously attempting to cure. The cure periods shall also be extended for any period of time during which the defaulting party is delayed in, or prevented from, curing due to fire or other casualty, or acts of God, strikes, lockouts, power shortages or outages, enactment, adoption, or promulgation of new laws, or the application or enforcement of laws. Notwithstanding the foregoing, there shall be no extended period in which to cure a monetary default.

REMEDIES IN THE EVENT OF DEFAULT. (a) The following shall constitute an "Event of Default" hereunder: (i) 18.1 If Tenant fails to make in the performance of any covenant or provision in this Lease (except payment of any installment of Rent or any Additional Rent rent or other sum payable charge or money obligation hereunder required to be paid by Tenant hereunder within ten (10) Tenant), and if such failure shall continue for a period of thirty days after receipt notice by Landlord, or in case of written notice a failure which cannot with due diligence be cured within a period of non-payment or (ii) thirty days, if Tenant fails to promptly or fully perform any other provision of this Lease on Tenant's part to be performed and fails proceed with reasonable diligence to cure such failure within thirty (30) days promptly after receipt the service of written noticesuch notice and thereafter to prosecute the curing of such failure with all due diligence, or if such breach canLandlord may, but shall not be cured within obligated to, cure or prosecute the curing of such thirty (30) day periodfailure at reasonable expense, which expense shall be additional rent hereunder and shall be paid to Landlord by Tenant on demand, and if necessary to cure such longer period of time as may failure, Landlord shall be reasonably required. entitled to enter the Premises for such purpose. 18.2 Upon the occurrence of an Event any of Defaultsuch defaults, Landlord shall have the option to pursue any one or more of the following remediesremedies without any notice or demand whatsoever: (i) Terminate this Lease Lease, in which event Tenant shall immediately surrender to Landlord the Premises and re-if Tenant fails to do so, Landlord may, without prejudice to any other remedy which it may have, enter upon and retake take possession by legal process, and declare immediately due and payable the entire amount of the Rent then remaining to be paid under this Lease for the balance of the lease term, adjusted to present value at six percent (6%) per annum, less the fair rentable value of the Premises for and expel or remove Tenant and any other person who may be occupying the balance of the term also adjusted to present value at the rate of six percent (6%) per annum; orPremises or any part thereof under Tenant. (ii) Terminate Tenant's right of possession without terminating Not terminate this Lease and re-enter upon and retake take possession by legal process, of the Premises and expel or remove Tenant and remove all property therefrom and re-let any other person who may be occupying the Premises or any part thereof under Tenant, and, if Landlord so elects, make such alterations and repairs as may be necessary to relet the Premises, and relet the Premises or any part thereof, as the agent of Tenant, at the reasonable fair rental value and for the Tenant's account such term and subject to such terms and conditions as Landlord reasonably may deem advisable and receive the rent therefromtherefor. Upon each such reletting all rentals received by Landlord from such reletting shall make reasonable efforts be applied, first, to re-let the premises payment of any indebtedness other than rent due hereunder from Tenant to a responsible tenant at Landlord; second, to the best possible rentpayment of any loss and expense of such reletting, including brokerage fees and attorneys’ fees and costs of such alterations and repairs; third, to the payment of the rentals and other charges due and unpaid hereunder; and the residue, if any, shall be held by Landlord and applied in payment of future payments of rentals and other charges payable hereunder, as the same may become due and payable hereunder. Tenant shall thereafter be obligated agrees to pay to Landlord an amount equal on demand any deficiency that may arise by reason of such reletting; notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to the rent due under terminate this Lease for such previous breach. (iii) Landlord herewith specifically waives the remaining termrights to any lien for non-payment of rent or other sums agreed to be paid by Tenant herein, less including, but not limited to, a waiver of liens on all fixtures, machinery, equipment, furnishings, and other articles of personal property now or hereafter placed in or upon the amount Premises by Tenant. This waiver includes, but is not limited to, a waiver of Landlord’s general and special liens for rent codified at O.C.G.A. §00-00-000, et seq. Landlord agrees that if any lien is asserted against any property of Tenant, in contravention hereof, Landlord shall be liable to Tenant and shall indemnify and hold Tenant harmless for all damages arising out of placing of said lien and the placing of any rent from any substitute tenant, together with the Landlord's costs of re-letting including, without limitation, the alterations, redecorating and reasonable and customary real estate broker's fees and commissions. For purposes of this remedy, the parties agree that the statute of limitations for the Landlord's recovery of rent from Tenant such lien shall not begin to run until the expiration of the original term specifically constitute a breach by Landlord of this Lease. No waiver Landlord may pursue any of the foregoing remedies without precluding itself from pursuing any of the other remedies herein provided or any other remedies provided by law or in equity, except to the extent excluded herein, nor shall the exercise by Landlord of any remedy herein provided constitute a forfeiture or waiver of any rent or other money obligation due to Landlord hereunder or of any damages accruing to Landlord by reason of the violation or breach of any of the terms, covenants and provisions and covenants of this Lease shall be deemed or construed to constitute a waiver of any other violation or breach of any of the terms, provisions and covenants herein contained. Forbearance by Landlord to enforce one or more of the foregoing remedies herein provided upon an event of default by Tenant shall not be deemed or construed to constitute a waiver of such default default. 18.3 Nothing in Paragraphs 18.1 or 18.2 hereof affects the ability rights of the parties under statutory provisions relating to select which remedy Landlord desires. If landlord incurs reasonable expenseactions for unlawful detainer, including court costs and attorney fees, as a result of a default by Tenant under this Leaseforcible entry, and pursues one of the remedies set forth above, then such expenses shall be reimbursed by Tenant as Additional Rent, whether or not such default is subsequently curedforcible detainer. (b) If Tenant shall fail to make any payment or perform any act required to be made or performed under this Lease, Landlord, without waiving or releasing any obligation or default, may (but shall be under no obligation to), at any time, and upon reasonable notice to Tenant, make the payment or perform the act for the account of and at the expense of Tenant, and may enter upon the Premises for that purpose and take all actions as may be necessary to correct Tenant's breach. No such entry shall be deemed an eviction of Tenant. All sums so paid by Landlord and all costs and expenses (including, but not limited to, reasonable attorneys' fees and expenses) so incurred, together with interest at the rate of 2% per annum in excess of the prime rate of interest as announced from time to time by The Wall Street Journal from the date of payment, shall constitute additional rent and shall be paid by Tenant to Landlord on demand. (c) In the event Landlord is in default under the terms of this Lease, Tenant may provide written notice of such default to Landlord. Upon the expiration of thirty (30) days following the giving of such notice, if Landlord (i) has failed to cure such default or (ii) in the case of a default (other than the payment of money) which by its nature cannot be completely cured within such thirty (30) day period, Landlord does not within such period commence to cure the default, and diligently pursue and complete the cure in a reasonable period of time, then in either such event Tenant may do all things necessary or desirable to remedy such default and perform the obligations of Landlord which have not been fully or properly performed. Landlord shall immediately upon demand reimburse Tenant for all costs and expenses incurred by Tenant in connection with the foregoing plus interest at the rate set forth in Section 19(b) above and, in addition, if Landlord fails to make such payment within thirty (30) days of Tenant's written demand, Tenant may set off the amount of all costs and expenses incurred by Tenant in connection with the foregoing, plus interest at the rate defined in this Section against rent payment coming due under this Lease, and if at the end of the Term, extend the Lease for a period sufficient to recover such amount. (d) The aforementioned thirty (30) day period of time permitted for Landlord to cure its default and the periods of time permitted for Tenant to cure defaults hereunder shall be extended if the default cannot be cured within the time period allowed herein, so long as such party is diligently and continuously attempting to cure. The cure periods shall also be extended for any period of time during which the defaulting party is delayed in, or prevented from, curing due to fire or other casualty, or acts of God, strikes, lockouts, power shortages or outages, enactment, adoption, or promulgation of new laws, or the application or enforcement of laws. Notwithstanding the foregoing, there shall be no extended period in which to cure a monetary default.

REMEDIES IN THE EVENT OF DEFAULT. 10.1 Following notice of the occurrence of a Significant Event pursuant to article 17.1. (aAcceleration, Termination, Withdrawal) of the Loan Agreement and provided that said Significant Event has not been remedied within the grace period that may have been granted by the Secured Creditor, and provided that the Guaranteed obligations that have become liquid and collectible have not been met, the Agent Bank will be entitled to serve formal notice, through a bailiff, on the Grantor and the defaulting Beneficiary, demanding that they fulfil the Guaranteed obligations and advising that failure to perform within 5 (five) days of said notice will lead to sale of the Subject of the Pledge. The following shall constitute an "Event notice sent by the Agent Bank to the Grantor and to the Beneficiary, pursuant to this Article 10.1 will, with regard to said parties, have the effect of Default" hereunderthe formal notice referred to in sub-sections 1 and 2 of Article 2797 (“Forms of the sale”) of the Italian Civil Code, without the need for further formal notice. If the notified parties do not make the payment within the aforesaid time limit, the Agent Bank will proceed with the sale of the Subject of the Pledge. 10.2 By virtue of the provisions of the last sub-section of Article 2797 (“Forms of the sale”) of the Italian Civil Code, and without prejudice to the rights of the Secured Creditor pursuant to Article 2798 (“Assignment of the item in payment”) of the Italian Civil Code, after 5 (five) days have passed from receipt of the formal notice referred to in Article10.1 above and provided that in the meantime the Guaranteed obligations have not been met, the Subject of the Pledge may be sold, partially or fully or in several phases, with or without auction, in Italy and abroad, through the Agent Bank’s trading structure or through a stock brokerage company or a bailiff authorised for the purpose or any other person appointed by the competent judicial authorities or through any other procedure that the Agent Bank may deem appropriate, without prejudice to mandatory provisions of the law. The Agent Bank must provide the Grantor with notice of the venue and the time at which the sale will take place with at least 5 (five) Working Days’ notice. The Agent Bank will not be obliged to accept any purchase offer that it reasonably believes not to be advantageous. It is however understood that the sale must occur at the best conditions that the Agent Bank is able to achieve, acting in good faith and using the diligence of leading market operators, taking into account the situation of the reference market. The Grantor must in any case be promptly informed of the conditions of sale performed in this way. Without prejudice to the above, the Grantor hereby irrevocably appoints the Agent Bank, which accepts, pursuant to and for the purposes of Article 1723 (“Revocability of mandate”) of the Italian Civil Code, as its agent with powers of representation and special attorney having the power and authority to execute every act or other formality necessary to transfer or otherwise assign to third parties, in the name and on behalf of the Grantor, the Subject of the Pledge, or part thereof, in the event of enforcement of the Pledge. 10.3 Each time the Agent Bank may postpone any sale, through notice of the time and venue established for said postponement and without further notice, said sale may be executed at the time and venue to which it has been postponed. 10.4 Any other form of enforcement of the Pledge and sale of the Subject of the Pledge provided by the law, including without limitation, the possibility for the Agent Bank to demand assignment in payment of the Subject of the Pledge, remains. 10.5 The proceeds from total or partial enforcement of the Pledge must be allocated as follows: (A) firstly to the payment of costs and expenses (including legal expenses, taxes or duties and other costs) sustained by the Lending Party in relation to: (1) management of this Deed of Pledge; (2) conservation, use or management, sale, collection or any other form of realisation of any portion of the Subject of the Pledge; (3) exercise or enforcement of any of their rights pursuant to this Deed of Pledge, and/or (4) omission or default by the Grantor of the Pledge, even of just some of the provisions of this Deed of Pledge; (B) secondly to discharge of the Guaranteed obligations in relation to: (i) Tenant fails interest accrued and all else (including fees, commissions, charges and expenses), that have not been paid pursuant to make payment of any installment of Rent or any Additional Rent or other sum payable by Tenant hereunder within ten (10) days after receipt of written notice of non-payment or the Loan Agreement, and (ii) Tenant fails to promptly or fully perform any Loan principal that has not been repaid; and (C) thirdly, within the limits of the surplus, in favour of the Grantor and of the other provision of this Lease on Tenant's part to be performed and fails to cure such failure within thirty (30) days after receipt of written noticeparties authorised for collection, or if such breach canaccording to the decisions of the competent judicial authority. 10.6 For the purposes of enforcement of the Pledge, as outlined above, the Grantor hereby waives any pre-emption right on the Share and/on the rights to the Share to which it is and/or has become entitled. The Grantor also undertakes not be cured within such thirty (30) day periodto assign and/or transfer in any way the pre-emption rights on the Share and/on the rights to the Share to which it is and/or has become entitled. 10.7 The Grantor expressly and irrevocably waives, such longer period in the interest of time as the Secured Creditor, any right of recourse and/or subrogation to which it may be reasonably required. Upon entitled with regard to the occurrence of an Event of Default, Landlord shall have the option to pursue any one Pledged Company following enforcement of the following remedies: (i) Terminate this Lease and re-enter and retake possession by legal processPledge, and declare immediately due and payable the entire amount until full discharge of the Rent then remaining Guaranteed obligations and undertakes to be paid under this Lease for the balance provide written confirmation of said waiver, upon request of the lease termAgent Bank, adjusted to present value at six percent (6%) per annum, less the fair rentable value time of or following enforcement of the Premises for Pledge. 10.8 The Pledged Company and the balance Secured Creditor acknowledge and irrevocably accept the waiver of the term also adjusted rights of recourse and subrogation provided by the Grantor pursuant to present value at the rate of six percent (6%) per annum; or (ii) Terminate Tenant's right of possession without terminating this Lease and re-enter and retake possession by legal process, expel Tenant and remove all property therefrom and re-let the Premises for the Tenant's account and receive the rent therefrom. Landlord shall make reasonable efforts to re-let the premises to a responsible tenant at the best possible rent. Tenant shall thereafter be obligated to pay to Landlord an amount equal to the rent due under this Lease for the remaining term, less the amount of any rent from any substitute tenant, together with the Landlord's costs of re-letting including, without limitation, the alterations, redecorating and reasonable and customary real estate broker's fees and commissions. For purposes of this remedy, the parties agree that the statute of limitations for the Landlord's recovery of rent from Tenant shall not begin to run until the expiration of the original term of this Lease. No waiver by Landlord of any violation or breach of any of the terms, provisions and covenants of this Lease shall be deemed or construed to constitute a waiver of any other violation or breach of any of the terms, provisions and covenants herein contained. Forbearance by Landlord to enforce one or more of the foregoing remedies provided upon an event of default by Tenant shall not be deemed or construed to constitute a waiver of such default or the ability to select which remedy Landlord desires. If landlord incurs reasonable expense, including court costs and attorney fees, as a result of a default by Tenant under this Lease, and pursues one of the remedies set forth above, then such expenses shall be reimbursed by Tenant as Additional Rent, whether or not such default is subsequently curedarticle. (b) If Tenant shall fail to make any payment or perform any act required to be made or performed under this Lease, Landlord, without waiving or releasing any obligation or default, may (but shall be under no obligation to), at any time, and upon reasonable notice to Tenant, make the payment or perform the act for the account of and at the expense of Tenant, and may enter upon the Premises for that purpose and take all actions as may be necessary to correct Tenant's breach. No such entry shall be deemed an eviction of Tenant. All sums so paid by Landlord and all costs and expenses (including, but not limited to, reasonable attorneys' fees and expenses) so incurred, together with interest at the rate of 2% per annum in excess of the prime rate of interest as announced from time to time by The Wall Street Journal from the date of payment, shall constitute additional rent and shall be paid by Tenant to Landlord on demand. (c) In the event Landlord is in default under the terms of this Lease, Tenant may provide written notice of such default to Landlord. Upon the expiration of thirty (30) days following the giving of such notice, if Landlord (i) has failed to cure such default or (ii) in the case of a default (other than the payment of money) which by its nature cannot be completely cured within such thirty (30) day period, Landlord does not within such period commence to cure the default, and diligently pursue and complete the cure in a reasonable period of time, then in either such event Tenant may do all things necessary or desirable to remedy such default and perform the obligations of Landlord which have not been fully or properly performed. Landlord shall immediately upon demand reimburse Tenant for all costs and expenses incurred by Tenant in connection with the foregoing plus interest at the rate set forth in Section 19(b) above and, in addition, if Landlord fails to make such payment within thirty (30) days of Tenant's written demand, Tenant may set off the amount of all costs and expenses incurred by Tenant in connection with the foregoing, plus interest at the rate defined in this Section against rent payment coming due under this Lease, and if at the end of the Term, extend the Lease for a period sufficient to recover such amount. (d) The aforementioned thirty (30) day period of time permitted for Landlord to cure its default and the periods of time permitted for Tenant to cure defaults hereunder shall be extended if the default cannot be cured within the time period allowed herein, so long as such party is diligently and continuously attempting to cure. The cure periods shall also be extended for any period of time during which the defaulting party is delayed in, or prevented from, curing due to fire or other casualty, or acts of God, strikes, lockouts, power shortages or outages, enactment, adoption, or promulgation of new laws, or the application or enforcement of laws. Notwithstanding the foregoing, there shall be no extended period in which to cure a monetary default.

REMEDIES IN THE EVENT OF DEFAULT. a) In the event of any default under this Lease as hereinabove set forth or otherwise, Landlord may at any time thereafter, and without limiting Landlord in the exercise of any other legal remedy under law or in equity or otherwise which Landlord may have by reason of the default, serve written notice on Tenant requiring Tenant to alternatively within three (3) calendar days after service of such notice (a) The following shall constitute an "Event of Default" hereunder: (i) Tenant fails to make payment of any installment of Rent pay the rent or any Additional Rent amount due or other sum payable perform as required by Tenant hereunder within ten (10) days after receipt of written notice of non-payment or (ii) Tenant fails to promptly or fully perform any other the provision of this Lease on Tenant's part which Tenant has failed to be performed and fails to cure such failure within thirty (30) days after receipt of written noticeobserve, or if such breach cannot be cured within such thirty (30b) day periodsurrender the Premises to Landlord. all in accordance with Title 78, such longer period of time as may be reasonably required. Upon the occurrence of an Event of Default, Landlord shall have the option to pursue any one Chapter 36 of the following remediesUtah Code. In the event Landlord may recover from Tenant: (i) Terminate this Lease and re-enter and retake possession The worth at the time of award of any unpaid rent which had been earned at the time of such termination; plus (ii) The worth at the time of award of the amount by legal process, and declare immediately due and payable which the entire unpaid rent which would have been earned after termination until the time of award exceeds the amount of rental loss that could have been reasonably avoided; plus (iii) The worth at the Rent then remaining to be paid under this Lease for the balance time of award of the lease term, adjusted to present value at six percent (6%) per annum, less amount by which the fair rentable value of the Premises unpaid rent for the balance of the term also adjusted after the time of award exceeds the amount of such rental loss that could be reasonably avoided; plus (iv) At Landlord's election. such other amounts in addition to present value or in lieu of the foregoing as may be permitted from time to time by applicable law including treble damages as permitted by Title 78, Chapter 36; less (v) Any amounts by which Landlord is benefited by reason of not having to incur Operating Expenses associated with Tenant's occupancy. The term "rent" as used herein shall be deemed to be and to mean the Base Rent and all other sums. including but not limited to Additional Rent, required to be paid by Tenant pursuant to the above terms of this Lease. As used in paragraphs (1) and (ii) above, the worth at time of award is computed by allowing interest at the rate of six the Federal Reserve Bank of San Francisco at the time of award plus one percent (61%). b) per annum; or (ii) Terminate Except as may be required otherwise under state statutory or common law, Landlord can continue this Lease in full force and effect. regardless of whether or not Tenant is in default or has abandoned the Premises, and this Lease will continue in effect as long as Landlord does not terminate Tenant's right of to possession without terminating this Lease and re-Landlord shall have the right to collect rent when due with allowance for reduced Operating Expenses. In addition: (i) During the period Tenant is in default and shall have vacated the Premises, Landlord. at its election, may enter and retake possession by legal process, expel Tenant and remove all property therefrom and re-let the Premises for the Tenant's account and receive the rent therefromre!et them or any part of them upon such terms as Landlord in its sole discretion shall deem appropriate. Any rentals received by Landlord from such reletting shall make reasonable efforts to re-let the premises to a responsible tenant at the best possible rent. Tenant shall thereafter be obligated to pay to Landlord an amount equal applied: first, to the payment of any indebtedness other than rent due under this Lease for hereunder from Tenant to Landlord; second, to the remaining term, less the amount payment of any rent from any substitute tenant, together with the Landlord's costs of re-letting including, without limitation, the alterations, redecorating and reasonable and customary real estate broker's fees and commissions. For purposes of this remedy, the parties agree that the statute of limitations for the Landlord's recovery of rent from Tenant shall not begin to run until the expiration of the original term of this Lease. No waiver by Landlord of any violation or breach of any of the terms, provisions and covenants of this Lease shall be deemed or construed to constitute a waiver of any other violation or breach of any of the terms, provisions and covenants herein contained. Forbearance by Landlord to enforce one or more of the foregoing remedies provided upon an event of default by Tenant shall not be deemed or construed to constitute a waiver cost of such default or the ability to select which remedy Landlord desires. If landlord incurs reasonable expensereletting, including court costs and attorney fees, as a result of a default by Tenant under this Lease, and pursues one of the remedies set forth above, then such expenses shall be reimbursed by Tenant as Additional Rent, whether or not such default is subsequently cured. (b) If Tenant shall fail to make any payment or perform any act required to be made or performed under this Lease, Landlord, without waiving or releasing any obligation or default, may (but shall be under no obligation to), at any time, and upon reasonable notice to Tenant, make the payment or perform the act for the account of and at the expense of Tenant, and may enter upon the Premises for that purpose and take all actions as may be necessary to correct Tenant's breach. No such entry shall be deemed an eviction of Tenant. All sums so paid by Landlord and all costs and expenses (including, but not limited toto leasing commissions and reasonable attorney's fees incident to such default, reasonable attorneys' fees re-entry and expenses) so incurredreletting; third, together with interest at to the rate of 2% per annum in excess payment of the prime rate cost of interest any alterations and repairs to the Premises caused by Tenant's damage to the Premises, normal wear and excepted; and fourth, to the payment of rent due and unpaid hereunder. Tenant shall pay any deficiency in such amounts, as announced from time to time determined by The Wall Street Journal from the date of paymentLandlord, shall constitute additional rent and shall be paid by Tenant to Landlord on demandwithin ten (10) calendar days of receipt of a statement setting forth the amount of such deficiency. (ii) Neither Landlord's acts of maintenance or preservation or efforts to relet the Premises, nor the appointment of a receiver upon the initiative of the Landlord to protect Landlord's interest under this Lease, nor re-entry or taking possession of the Premises by Landlord pursuant to this ARTICLE 26.00, shall be construed as an election to terminate this Lease or constitute a termination of Tenant's rights to possession, nor shall it cause a forfeiture of rents and other amounts remaining to be paid during the balance of the term of this Lease unless Landlord notifies Tenant in writing that Landlord elects to terminate this Lease, or unless termination is decreed by a court of competent jurisdiction. (iii) Notwithstanding any reletting without termination by Landlord because of any default by Tenant, Landlord may at any time after reletting elect to terminate this Lease for any such default. c) In the event Landlord is in default under the terms of this Lease, Tenant may provide written notice of such default to Landlord. Upon the expiration of thirty (30) days following the giving of such notice, if Landlord (i) has failed to cure such default or (ii) in the case of a default (other than the payment of money) which by its nature cannot be completely cured within such thirty (30) day period, Landlord does not within such period commence to cure the default, and diligently pursue and complete the cure in a reasonable period of time, then in either such event Tenant may do all things necessary or desirable to remedy any such default and perform the obligations of Landlord which have not been fully or properly performed. abandonment by Tenant, Landlord shall immediately upon demand reimburse Tenant for also have the fight to reenter the Premises and remove all costs persons and expenses incurred by Tenant property from said Premises; such property may be removed and stored in connection with the foregoing plus interest a xxxx house or elsewhere at the rate set forth in Section 19(b) above and, in addition, if Landlord fails to make such payment within thirty (30) days cost of and for the account of Tenant's written demand, Tenant may set off the amount of all costs and expenses incurred by Tenant in connection with the foregoing, plus interest at the rate defined in this Section against rent payment coming due under this Lease, and if at the end of the Term, extend the Lease for a period sufficient to recover such amount. (d) The aforementioned thirty (30) day period of time permitted for Landlord to cure its default and the periods of time permitted for Tenant to cure defaults hereunder shall be extended if the default cannot be cured within the time period allowed herein, so long as such party is diligently and continuously attempting to cure. The cure periods shall also be extended for any period of time during which the defaulting party is delayed in, or prevented from, curing due to fire or other casualty, or acts of God, strikes, lockouts, power shortages or outages, enactment, adoption, or promulgation of new laws, or the application or enforcement of laws. Notwithstanding the foregoing, there shall be no extended period in which to cure a monetary default.