Concessionaire Default. If the Concessionaire shall default in the payment of any sum required to be paid by the Concessionaire under this Agreement and such default shall continue for 15 days after written notice to the Concessionaire, or if the Concessionaire shall default in the observance or performance of any other covenants or conditions in this Agreement, which the Concessionaire is required to observe or perform, and such default shall continue for 30 days after written notice to the Concessionaire, or if a default involves a Hazardous Condition and is not cured by the Concessionaire immediately upon written notice to the Concessionaire, or if the interest of the Concessionaire in this Agreement shall be levied upon under execution or other legal process, or if any voluntary petition in bankruptcy or for corporate reorganization or any similar relief shall be filed by the Concessionaire, or if any involuntary petition in bankruptcy shall be filed against the Concessionaire under any federal or state bankruptcy or insolvency act and shall not have been dismissed within 30 days following the filing thereof, or if a receiver shall be appointed for the Concessionaire or any of the property of the Concessionaire by any court and such receiver shall not be dismissed within 30 days from the date of appointment, or if the Concessionaire shall make an assignment for the benefit of creditors, or if the Concessionaire shall abandon or vacate the Property, then the City may treat the occurrence of any one or more of the foregoing events as a breach of this Agreement and thereupon at its option may, without notice or demand of any kind to the Concessionaire or any other person, terminate this Agreement and immediately resume exclusive possession of the Properties, in addition to all other rights and remedies provided at law or in equity.
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Sources: Food and Beverage Service Agreement, Food and Beverage Service Agreement