Laserfiche WebLink
PREMISES OR FOR HARM TO ANY PROPERTY WHICH BELONGS TO <br />LESSEE, ITS OFFICERS, OWNERS, SERVANTS, EMPLOYEES, <br />CONTRACTORS, SUBCONTRACTORS, LICENSEES, INVITEES OR <br />PATRONS, OR WHICH MAY BE STOLEN, DESTROYED OR IN ANY WAY <br />DAMAGED; AND LESSEE HEREBY INDEMNIFIES AND HOLDS <br />HARMLESS LESSOR AND AIRPORT MANAGEMENT, THEIR OFFICERS, <br />OWNERS, AGENTS, SERVANTS AND EMPLOYEES FROM AND AGAINST <br />ANY AND ALL SUCH CLAIMS. <br />20. DEFAULT. The following events shall be events of default by Lessee under this Agreement: <br />a. The Lessee fails to pay when due any rental or any other sums or charges due under <br />this Agreement, and such failure continues for seven (7) days following written notice <br />thereof (provided, however, that Lessor shall be obligated to give only two such notices <br />in any calendar year, and after such two notices, Lessor will no longer be obligated to <br />give any other notice under this Section within such calendar year). <br />b. The Lessee fails to comply with any other term, provision, or covenant of this <br />Agreement, and does not cure the failure within thirty (30) days after written notice to <br />the Lessee. However, if Lessee's failure to comply cannot reasonably be cured within <br />thirty (30) days, Lessee shall be allowed additional time (not to exceed sixty (60) days) <br />as is reasonably necessary to cure the failure so long as Lessee commences to cure the <br />failure within fifteen (15) days and Lessee diligently pursues a course of action that <br />will cure the failure. For any subsequent default by the Lessee for the same or any <br />other reason, the Lessor may terminate the Agreement if that subsequent default <br />continues for more than three (3) days after notice of the subsequent default. <br />c. The Lessee becomes insolvent, makes a transfer in fraud of creditors, or makes an <br />assignment for the benefit of creditors. <br />d. The Lessee commences, or another party commences against the Lessee, proceedings <br />in bankruptcy, for reorganization, or for the readjustment or arrangement of its debts <br />under the bankruptcy laws of the United States or under any other law. <br />e. A receiver or trustee is appointed for all or substantially all of the assets of the Lessee. <br />f. The Lessee abandons or vacates all or any substantial portion of Lessee's Premises for <br />120 consecutive days. <br />The acceptance by the Lessor of the Lessee's monthly payments after the occurrence of any <br />event of default shall in no way constitute a waiver by the Lessor of its right to exercise any <br />remedy provided for any event of default. <br />Page 5 of 6 <br />