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<br /> -6- <br />LESSEE shall be appointed and shall not be discharged within ninety <br />(90) days afte r such appointment, LESSOR may terminate this lease <br />agreement by giving written notice to LESSEE of its intention to do so; <br />but neither bankruptcy, nor insolvency, nor an assignment for the <br />benefit of creditors, nor the appointment of a receiver, shall, <br />however, affect this lease agreement or permit its termination so long <br />as the covenants on the part of LESSEE to be performed are being <br />performed by LESSEE, or someone claiming under it, or the then owner of <br />the lease term, and provided that this lease agreement shall be duly <br />affirmed by LESSEE, or someone claiming under it, or the then owner of <br />the lease term, within three (3) months after such event. <br /> No delay or omission by either party hereto to exercise any right <br />or power occurring upon any noncompliance or default by the other party <br />with respect to any of the terms hereof shall impair any such right or <br />power or be construed to be a waiver thereof. It is further agreed <br />that a waiver by either of the parties hereto of any of the covenants <br />and agreements to be performed by the other shall not be construed <br />to be a waiver of any succeeding breach thereof or of any other <br />covenants or agreements herein contained. <br /> VII. DAMAGE OR DESTRUCTION OF LEASED PREMISES <br /> If, at any time during the primary term or any renewal or <br />extension hereof, the leased premises shall be damaged by fire, <br />windstorm, or other casualty resulting in the denial to LESSEE of the <br />beneficial occupancy of twenty-five percent (25%) or more of the <br />floor space of the leased premises, then LESSEE may, within seven <br />( 7) working days of the occurrence of such event, terminate this <br />contract immediately upon the delivery of written notice to LESSOR. <br />Upon LESSEE's failure to terminate this contrac t under such <br />circumstances, LESSOR shall, at its expense, proceed promptly to <br />rebuild and/or repair the leased premises to substantially the same <br />condition or better than before the occurrence of the event <br />resulting in damage or destruction of the leased premises, and <br />this contract shall continue in full force and effect; however, the <br />monthly rentals payable and/or paid in advance by LESSEE under this <br />contract shall abate and/or be refunded to LESSEE from the date of the <br />