Cessation of Operation. If Tenant should not continuously conduct its riverboat gambling operations on the Riverboat at any time during the Demised Term, whether such cessation is temporary or permanent, voluntary or involuntary, it is agreed that it would be difficult to project the precise loss to be suffered by City because of such cessation of operations. Therefore, City and Tenant have agreed that a fair and equitable advance estimate of the damages City would experience and suffer because of such Event of Default by Tenant would be in the amount of Twenty-five Thousand Dollars ($25,000) per day during any such period of non-operation until the natural expiration date of the Demised Term or until City obtains a replacement tenant that conducts gaming operations from the Leased Premises upon terms and conditions no less favorable to City than those set forth in this Lease. City shall exert commercially reasonable efforts to procure such a replacement tenant. In the event of the cessation of the riverboat gambling operations, City shall be entitled to collect such amounts from Tenant as liquidated damages notwithstanding the fact that the cessation of such operations may result from termination of this Lease by City because of an Event of Default by T▇▇▇▇▇. If the cessation of operations is a result of an occurrence constituting a Force Majeure event as defined in Section 21.04, Tenant shall not be required to pay the foregoing daily liquidated damages, but Tenant shall continue to pay the Guaranteed Minimum Rental until the expiration of the Demised Term or until a replacement tenant commences the payment of rent.
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Cessation of Operation. If Tenant should not continuously conduct its riverboat gambling operations on the Riverboat at any time during the Demised Term, whether such cessation is temporary or permanent, voluntary or involuntary, it is agreed that it would be difficult to project the precise loss to be suffered by City because of such cessation of operations. Therefore, City and Tenant have agreed that a fair and equitable advance estimate of the damages City would experience and suffer because of such Event of Default by Tenant would be in the amount of Twenty-five Thousand Dollars ($25,000) per day during any such period of non-operation until the natural expiration date of the Demised Term or until City obtains a replacement tenant that conducts gaming operations from the Leased Premises upon terms and conditions no less favorable to City than those set forth in this Lease. City shall exert commercially reasonable efforts to procure such a replacement tenant. In the event of the cessation of the riverboat gambling operations, City shall be entitled to collect such amounts from Tenant as liquidated damages notwithstanding the fact that the cessation of such operations may result from termination of this Lease by City because of an Event of Default by T▇▇▇▇▇▇. If the cessation of operations is a result of an occurrence constituting a Force Majeure event as defined in Section 21.04, Tenant shall not be required to pay the foregoing daily liquidated damages, but Tenant shall continue to pay the Guaranteed Minimum Rental until the expiration of the Demised Term or until a replacement tenant commences the payment of rent.
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