Common use of Consequences of a Default Clause in Contracts

Consequences of a Default. (1) If a Default occurs, the Authority may, but is not obligated to, give to the Contractor a notice of Default and, in the Authority’s sole discretion, may provide an opportunity to cure. If a cure is allowed, and if the Contractor has not cured or made reasonable progress to cure the Default within fifteen (15) days from the Contractor’s receipt of the notice, the Authority may immediately terminate the Contract by written notice to the Contractor. The Contractor agrees that the Authority may also cure any Default in the Contractor’s performance and charge the Contractor for the cost of the cure plus a ten percent (10%) administration fee. Upon the Contractor’s receipt of a written notice of termination, the Contractor shall immediately take the following actions: quit the Premises and return them to the Authority’s control; return the Operating Equipment to the Authority; deliver all Operating Receipts to the Authority’s Authorized Banking Account designated at Exhibit K; deliver all accounts, invoices, and other books and records to the Authority; and take all other actions desirable or directed by the Authority to provide for a smooth transition of operations to the Authority directly or to its designee without loss or delay. Upon any termination, every obligation contained in this Contract to be performed by the Authority shall cease; the Supplemental Lease Agreement shall terminate; and the Contractor shall have no further authority to take any action on behalf of the Authority. (2) When this Contract is terminated, the Contractor shall immediately vacate the Premises and Facilities and the Authority or its agents or employees may immediately or at any time thereafter, re-enter the Premises and Facilities and remove the Contractor, its agents, subcontractors, invitees, and property. Re-entry and removal may be effected by summary dispossess proceedings, by any suitable action or proceeding at law, by force, or otherwise. The Authority shall be entitled to the benefits of all provisions of law respecting speedy recovery of the Premises and Facilities held over by the Contractor. Any other notice to quit or re-enter the Premises and Facilities is hereby expressly waived by the Contractor. The Authority shall not be liable in any way in connection with any action it takes pursuant to this Section. The Contractor's liability shall survive the Authority's re-entry, the institution of summary proceedings, and the issuance of any warrants with respect thereto. (3) If this Contract is terminated, the Contractor shall remain liable (in addition to accrued liabilities) to the extent legally permissible for the amounts that the Contractor would have been required to pay to the Authority had the Contract not been terminated. The Contractor shall also pay as damages the Authority’s expenses for reentering or repossessing the Premises and Facilities, for putting the Premises and Facilities in proper repair, and for altering the same for a replacement contractor. In addition, the Contractor shall pay to the Authority such sums as the court which has jurisdiction there over may adjudge as reasonable attorney’s fees with respect to any successful lawsuit or action instituted by the Authority to enforce the provisions of this Contract. (4) The Authority may enter into a new contract with another contractor that will occupy the Premises and Facilities for all or any part of the unexpired portion of the Contract Term or for any longer period. The Authority has the sole and absolute discretion with respect to the selection of a new contractor and its use of the Premises. (5) If the Contractor is in Default under this Contract, the Authority may, after providing written notice to the Contractor of the Default, cure the Default at any time through any action deemed appropriate by the Authority for the account and at the expense of the Contractor. The Contractor shall reimburse the Authority for any amounts expended by the Authority in connection with the cure. Such cure shall not constitute a waiver of the Authority's rights with respect to that or any other Default, unless otherwise expressly stated in writing by the Authority. (6) The Authority's rights and remedies set forth herein shall be in addition to any other right or remedy now and hereafter provided by law. All rights and remedies shall be cumulative and not exclusive of each other. No delay by the Authority in exercising a right or remedy shall constitute a waiver or acquiescence to the Default. No waiver of a Default shall be effective unless it is in writing. No waiver of a Default shall extend or affect any other Default or impair any right or remedy with respect thereto. (7) The right to withhold amounts due to the Contractor or lien on the personal property of the Contractor is expressly granted to the Authority in any case where the Contractor fails to pay amounts due to the Authority under this Contract. The Authority may deduct any amounts that the Contractor owes to the Authority from amounts that the Authority owes to the Contractor. (8) The Authority shall not be liable for any damage, including, but not limited to, loss of profit, and the Contractor shall not make a claim of any kind whatsoever against the Authority, its agents or representatives, by reason of any action taken pursuant to this Section. (9) To the extent that the Authority’s right to terminate this Contract is temporarily or otherwise unenforceable under 11 U.S.C. Section 101 et. seq. as amended from time to time (“Bankruptcy Code”), or under any other statute, then Contractor as well as any trustee for the estate of Contractor agree to: (1) perform promptly every obligation of Contractor under this Contract (other than monetary obligations of the Contractor that are not capable of being performed due to the filing of a bankruptcy case by the Contractor under the Bankruptcy Code) until this Contract is either rejected, assumed or deemed rejected under the Bankruptcy Code; (2) pay the post-petition monthly payments of rent and other fees and expenses as and when such payments become due under the Contract;

Appears in 2 contracts

Sources: Concession Management Contract, Concession Management Contract

Consequences of a Default. (1) . If a Default occurs, the Authority may, but is not obligated to, may give to the Contractor a notice of Default and, in the Authority’s sole discretion, may provide and an opportunity to cure. If a cure is allowed, and if the Contractor has not cured cured, or made reasonable progress to cure the Default within fifteen (15) days from the Contractor’s receipt of the notice, the Authority may immediately terminate the Contract by written notice to the Contractor. The Contractor agrees that If the Authority may also cure any Default in the Contractor’s performance and charge the Contractor for the cost of the cure plus a ten percent (10%) administration fee. Upon the Contractor’s receipt of a written notice of termination, the Contractor shall immediately take the following actions: quit the Premises and return them elects to the Authority’s control; return the Operating Equipment to the Authority; deliver all Operating Receipts to the Authority’s Authorized Banking Account designated at Exhibit K; deliver all accounts, invoices, and other books and records to the Authority; and take all other actions desirable or directed by the Authority to provide for a smooth transition of operations to the Authority directly or to its designee without loss or delay. Upon any terminationterminate this Contract, every obligation contained in this Contract to be performed by the Authority shall cease; the Supplemental Lease Agreement shall terminate; and the Contractor shall have no further authority to take any action on behalf of the Authority. (2) . When this Contract is terminated, the Contractor shall immediately vacate the Premises and Facilities and the Authority or its agents or employees may immediately or at any time thereafter, re-enter the Premises and Facilities and remove the Contractor, its agents, subcontractors, invitees, and property. Re-entry and removal may be effected by summary dispossess proceedings, by any suitable action or proceeding at law, by force, or otherwise. The Authority shall be entitled to the benefits of all provisions of law respecting speedy recovery of the Premises and Facilities held over by the Contractor. Any other notice to quit or re-enter the Premises and Facilities is hereby expressly waived by the Contractor. The Authority shall not be liable in any way in connection with any action it takes pursuant to this Section. The Contractor's liability shall survive the Authority's re-entry, the institution of summary proceedings, and the issuance of any warrants with respect thereto. (3) . If this Contract is terminated, the Contractor shall remain liable (in addition to accrued liabilities) to the extent legally permissible for the amounts that the Contractor would have been required to pay to the Authority had the Contract not been terminated. The Contractor shall also pay as damages the Authority’s expenses for reentering or repossessing the Premises and Facilities, for putting the Premises and Facilities in proper repair, and for altering the same for a replacement contractor. In addition, the Contractor shall pay to the Authority such sums as the court which has jurisdiction there over may adjudge as reasonable attorney’s attorneys fees with respect to any successful lawsuit or action instituted by the Authority to enforce the provisions of this Contract. (4) . The Authority may enter into a new contract with another contractor that will occupy the Premises and Facilities provide taxicab services for all or any part of the unexpired portion of the Contract Term or for any longer period. The Authority has the sole and absolute discretion with respect to the selection of a new contractor and its use of the PremisesPremises and Facilities. (5) . If the Contractor is in Default under this Contract, the Authority may, after providing written notice to the Contractor of the Default, cure the Default at any time through any action deemed appropriate by the Authority for the account and at the expense of the Contractor. The Contractor shall reimburse the Authority for any amounts expended by the Authority in connection with the cure. Such cure shall not constitute a waiver of the Authority's rights with respect to that or any other Default, unless otherwise expressly stated in writing by the AuthorityContracting Officer. (6) The Authority's rights and remedies set forth herein shall be in addition to any other right or remedy now and hereafter provided by law. All rights and remedies shall be cumulative and not exclusive of each other. No delay by the Authority in exercising a right or remedy shall constitute a waiver or acquiescence to the Default. No waiver of a Default shall be effective unless it is in writing. No waiver of a Default shall extend or affect any other Default or impair any right or remedy with respect thereto. (7) The right to withhold amounts due to the Contractor or lien on the personal property of the Contractor is expressly granted to the Authority in any case where the Contractor fails to pay amounts due to the Authority under this Contract. The Authority may deduct any amounts that the Contractor owes to the Authority from amounts that the Authority owes to the Contractor. (8) The Authority shall not be liable for any damage, including, but not limited to, loss of profit, and the Contractor shall not make a claim of any kind whatsoever against the Authority, its agents or representatives, by reason of any action taken pursuant to this Section. (9) To the extent that the Authority’s right to terminate this Contract is temporarily or otherwise unenforceable under 11 U.S.C. Section 101 et. seq. as amended from time to time (“Bankruptcy Code”), or under any other statute, then Contractor as well as any trustee for the estate of Contractor agree to: (1) perform promptly every obligation of Contractor under this Contract (other than monetary obligations of the Contractor that are not capable of being performed due to the filing of a bankruptcy case by the Contractor under the Bankruptcy Code) until this Contract is either rejected, assumed or deemed rejected under the Bankruptcy Code; (2) pay the post-petition monthly payments of rent and other fees and expenses as and when such payments become due under the Contract;

Appears in 2 contracts

Sources: Concession Contract, Concession Contract

Consequences of a Default. (1a) If a Default occurs, the Airports Authority may, but is not obligated to, will give to the Contractor a notice of Default and, in the Authority’s sole discretion, may provide and an opportunity to cure. If a cure is allowed, and if the Contractor has not cured cured, or made reasonable progress to cure the Default within fifteen (15) days from the Contractor’s receipt of the notice, the Airports Authority may immediately terminate the Contract by written notice to the Contractor. The Contractor agrees that the Authority may also cure any Default in the Contractor’s performance and charge the Contractor for the cost of the cure plus a ten percent (10%) administration fee. Upon the Contractor’s receipt of a written notice of termination, the Contractor shall immediately take remove the following actions: quit Wi-Fi Platform from the Premises and return them Airports Authority websites, ensuring that there will not be any disruption to those websites in the Authority’s control; return the Operating Equipment to the Authority; deliver all Operating Receipts to the Authority’s Authorized Banking Account designated at Exhibit K; deliver all accounts, invoices, and other books and records to the Authority; and take all other actions desirable or directed by the Authority to provide for a smooth transition process of operations to the Authority directly or to its designee without loss or delay. Upon any termination, every obligation contained in this Contract to be performed by the Authority shall cease; the Supplemental Lease Agreement shall terminate; and the Contractor shall have no further authority to take any action on behalf of the Authorityremoval. (2) When this Contract is terminated, the Contractor shall immediately vacate the Premises and Facilities and the Authority or its agents or employees may immediately or at any time thereafter, re-enter the Premises and Facilities and remove the Contractor, its agents, subcontractors, invitees, and property. Re-entry and removal may be effected by summary dispossess proceedings, by any suitable action or proceeding at law, by force, or otherwise. The Authority shall be entitled to the benefits of all provisions of law respecting speedy recovery of the Premises and Facilities held over by the Contractor. Any other notice to quit or re-enter the Premises and Facilities is hereby expressly waived by the Contractor. The Authority shall not be liable in any way in connection with any action it takes pursuant to this Section. The Contractor's liability shall survive the Authority's re-entry, the institution of summary proceedings, and the issuance of any warrants with respect thereto. (3b) If this Contract is terminated, the Contractor shall remain liable (in addition to accrued liabilities) ), to the extent legally permissible permissible, for the amounts that the Contractor would have been required to pay to the Airports Authority had the Contract not been terminated. The Contractor shall also pay as damages the Airports Authority’s expenses for reentering or repossessing replacing the Premises and Facilities, for putting the Premises and Facilities in proper repair, and for altering the same for a replacement contractorWi-Fi Platform. In addition, the Contractor shall pay to the Airports Authority such sums as the court which has jurisdiction there over may adjudge as reasonable attorney’s fees with respect to any successful lawsuit or action instituted by the Airports Authority to enforce the provisions of this Contract. (4) The Authority may enter into a new contract with another contractor that will occupy the Premises and Facilities for all or any part of the unexpired portion of the Contract Term or for any longer period. The Authority has the sole and absolute discretion with respect to the selection of a new contractor and its use of the Premises. (5c) If the Contractor is in Default under this Contract, the Airports Authority may, after providing written a Default notice to the Contractor of the DefaultContractor, cure the Default at any time through any action deemed appropriate by the Airports Authority for the account and at the expense of the Contractor. The Contractor shall reimburse the Airports Authority for any amounts expended by the Airports Authority in connection with the cure. Such cure shall not constitute a waiver of the Airports Authority's rights with respect to that or any other Default, unless otherwise expressly stated in writing by the Airports Authority. (6d) The Airports Authority's rights and remedies set forth herein shall be in addition to any other right or remedy now and hereafter provided by law. All rights and remedies shall be cumulative and not exclusive of each other. No delay by the Airports Authority in exercising a right or remedy shall constitute a waiver or acquiescence to the Default. No waiver of a Default shall be effective unless it is in writing. No waiver of a Default shall extend or affect any other Default or impair any right or remedy with respect thereto. (7e) The right to withhold amounts due to the Contractor or lien on the personal property of the Contractor is expressly granted to the Authority in any case where the Contractor fails to pay amounts due to the Authority under this Contract. The Authority may deduct any amounts that the Contractor owes to the Authority from amounts that the Authority owes to the Contractor. (8) The Airports Authority shall not be liable for any damage, including, but not limited to, loss of profit, and the Contractor shall not make a claim of any kind whatsoever against the Airports Authority, its agents or representatives, by reason of any action taken pursuant to this Section. (9f) To the extent that the Airports Authority’s right to terminate this Contract in accordance with this Article is temporarily or otherwise unenforceable under 11 U.S.C. U.S. C. Section 101 et. seq. as amended from time to time (“Bankruptcy Code”), or under any other statute, then Contractor as well as any trustee for the estate of Contractor agree to: (1) perform promptly every obligation of Contractor under this Contract (other than non-monetary obligations of the Contractor that are not capable of being performed due to the filing of a bankruptcy case by the Contractor under the Bankruptcy Code) until this Contract is either rejected, assumed or deemed rejected under the Bankruptcy Code; (2) pay the post-petition monthly payments of rent and other fees and expenses as and when such payments become due under the Contract;; (3) assume or reject this Contract within the minimum period of time provided for so doing under the Bankruptcy Code and in connection therewith, Contractor hereby waives any right to request extensions of such time period unless the Airports Authority agrees in writing to permit an extended time period; (4) provide the Airports Authority at least thirty (30) days prior written notice of any intended filing relating to its assumption of this Contract and in such notice, provide detail regarding any proposed assignee of the Contract, including financial information regarding such intended assignee; (5) upon the assumption of the Contract, cure any pre-petition default of Contractor under the Contract and provide the Airports Authority with adequate assurance regarding the ability of Contractor to continue to comply with the Contract; (6) provide the Airports Authority adequate assurance of future performance under the Contract by Contractor or Contractor’s assignee. Nothing herein shall be deemed consent by Airports Authority regarding Contractor’s ability to assign this Contract to any third party without Airports Authority’s written consent. For purposes of this paragraph, “adequate assurance of future performance” shall be determined by the Airports Authority in its sole discretion, provided however that Airports Authority shall be reasonable in such determination. If there exists any post-petition default under the Contract, Contractor agrees to consent in writing to relief from the automatic stay under the Bankruptcy Code in favor of the Airports Authority to enable Airports Authority to terminate the Contract as expeditiously as possible.

Appears in 2 contracts

Sources: Concession Contract, Concession Contract

Consequences of a Default. (1a) If a Default occurs, the Airports Authority may, but is not obligated to, may give to the Contractor a notice of Default and, in the Authority’s sole discretion, may provide and an opportunity to cure. If a cure is allowed, and if the Contractor has not cured cured, or made reasonable progress to cure the Default within fifteen (15) days from the Contractor’s receipt of the notice, the Airports Authority may immediately terminate the Contract by written notice to the Contractor. The Contractor agrees that the Authority may also cure any Default in the Contractor’s performance and charge the Contractor for the cost of the cure plus a ten percent (10%) administration fee. Upon the Contractor’s receipt of a written notice of termination, the Contractor shall immediately take remove the following actions: quit Sleep Units from the Premises and return them Airports Authority websites, ensuring that there will not be any disruption to the Authority’s control; return websites in the Operating Equipment to the Authority; deliver all Operating Receipts to the Authority’s Authorized Banking Account designated at Exhibit K; deliver all accounts, invoices, and other books and records to the Authority; and take all other actions desirable or directed by the Authority to provide for a smooth transition process of operations to the Authority directly or to its designee without loss or delay. Upon any termination, every obligation contained in this Contract to be performed by the Authority shall cease; the Supplemental Lease Agreement shall terminate; and the Contractor shall have no further authority to take any action on behalf of the Authorityremoval. (2) When this Contract is terminated, the Contractor shall immediately vacate the Premises and Facilities and the Authority or its agents or employees may immediately or at any time thereafter, re-enter the Premises and Facilities and remove the Contractor, its agents, subcontractors, invitees, and property. Re-entry and removal may be effected by summary dispossess proceedings, by any suitable action or proceeding at law, by force, or otherwise. The Authority shall be entitled to the benefits of all provisions of law respecting speedy recovery of the Premises and Facilities held over by the Contractor. Any other notice to quit or re-enter the Premises and Facilities is hereby expressly waived by the Contractor. The Authority shall not be liable in any way in connection with any action it takes pursuant to this Section. The Contractor's liability shall survive the Authority's re-entry, the institution of summary proceedings, and the issuance of any warrants with respect thereto. (3b) If this Contract is terminated, the Contractor shall remain liable (in addition to accrued liabilities) to the extent legally permissible for the amounts that the Contractor would have been required to pay to the Airports Authority had the Contract not been terminated. The Contractor shall also pay as damages the Airports Authority’s expenses for reentering or repossessing the Premises and Facilities, for putting the Premises and Facilities in proper repairfor, and for altering the same for a replacement contractor. In addition, the Contractor shall pay to the Airports Authority such sums as the court which has jurisdiction there over may adjudge as reasonable attorney’s fees with respect to any successful lawsuit or action instituted by the Airports Authority to enforce the provisions of this Contract. (4) The Authority may enter into a new contract with another contractor that will occupy the Premises and Facilities for all or any part of the unexpired portion of the Contract Term or for any longer period. The Authority has the sole and absolute discretion with respect to the selection of a new contractor and its use of the Premises. (5c) If the Contractor is in Default under this Contract, the Airports Authority may, after providing written notice a Default Notice to the Contractor of the DefaultContractor, cure the Default at any time through any action deemed appropriate by the Airports Authority for the account and at the expense of the Contractor. The Contractor shall reimburse the Airports Authority for any amounts expended by the Airports Authority in connection with the cure. Such cure shall not constitute a waiver of the Airports Authority's rights with respect to that or any other Default, unless otherwise expressly stated in writing by the Airports Authority. (6d) The Airports Authority's rights and remedies set forth herein shall be in addition to any other right or remedy now and hereafter provided by law. All rights and remedies shall be cumulative and not exclusive of each other. No delay by the Airports Authority in exercising a right or remedy shall constitute a waiver or acquiescence to the Default. No waiver of a Default shall be effective unless it is in writing. No waiver of a Default shall extend or affect any other Default or impair any right or remedy with respect thereto. (7e) The right to withhold amounts due to the Contractor or lien on the personal property of the Contractor is expressly granted to the Authority in any case where the Contractor fails to pay amounts due to the Authority under this Contract. The Authority may deduct any amounts that the Contractor owes to the Authority from amounts that the Authority owes to the Contractor. (8) The Airports Authority shall not be liable for any damage, including, but not limited to, loss of profit, and the Contractor shall not make a claim of any kind whatsoever against the Airports Authority, its agents or representatives, by reason of any action taken pursuant to this Section. (9f) To the extent that the Airports Authority’s right to terminate this Contract in accordance with this Article is temporarily or otherwise unenforceable under 11 U.S.C. Section 101 et. seq. as amended from time to time (“Bankruptcy Code”), or under any other statute, then Contractor as well as any trustee for the estate of Contractor agree to: (1) perform promptly every obligation of Contractor under this Contract (other than monetary obligations of the Contractor that are not capable of being performed due to the filing of a bankruptcy case by the Contractor under the Bankruptcy Code) until this Contract is either rejected, assumed or deemed rejected under the Bankruptcy Code; (2) pay the post-petition monthly payments of rent and other fees and expenses as and when such payments become due under the Contract;U.S.

Appears in 1 contract

Sources: Concession Contract

Consequences of a Default. (1a) If a Default occurs, the Airports Authority may, but is not obligated to, may give to the Contractor a notice of Default and, in the Authority’s sole discretion, may provide and an opportunity to cure. If a cure is allowed, and if the Contractor has not cured cured, or made reasonable progress to cure the Default within fifteen (15) days from the Contractor’s receipt of the notice, the Airports Authority may immediately terminate the Contract by written notice to the Contractor. The Contractor agrees that the Authority may also cure any Default in the Contractor’s performance and charge the Contractor for the cost of the cure plus a ten percent (10%) administration fee. Upon the Contractor’s receipt of a written notice of termination, the Contractor shall immediately take the following actions: quit the Premises Premises, Display Locations and Mediums, and return them to the Airports Authority’s control; return . If the Operating Equipment Airports Authority elects to the Authority; deliver all Operating Receipts to the Authority’s Authorized Banking Account designated at Exhibit K; deliver all accounts, invoices, and other books and records to the Authority; and take all other actions desirable or directed by the Authority to provide for a smooth transition of operations to the Authority directly or to its designee without loss or delay. Upon any terminationterminate this Contract, every obligation contained in this Contract to be performed by the Airports Authority shall cease; the Supplemental Lease Agreement shall terminate; and the Contractor shall have no further authority to take any action on behalf of the Authority. (2b) When this Contract is terminated, the Contractor shall immediately vacate the Premises and Facilities their Equipment and the Fixtures. The Airports Authority or its agents or employees may immediately or at any time thereafter, re-enter the Premises and Facilities assume their Equipment and Fixtures and remove the Contractor, its agents, subcontractors, invitees, and property. Re-entry and removal may be effected by summary dispossess proceedings, by any suitable action or proceeding at law, by force, or otherwise. The Airports Authority shall be entitled to the benefits of all provisions of law respecting speedy recovery of the Premises and Facilities the Equipment & Fixtures held over by the Contractor. Any other notice to quit or re-enter the Premises and Facilities resume the Equipment and Fixtures is hereby expressly waived by the Contractor. The Airports Authority shall not be liable in any way in connection with any action it takes pursuant to this Section. The Contractor's liability shall survive the Airports Authority's re-entry, the institution of summary proceedings, and the issuance of any warrants with respect thereto. (3c) If this Contract is terminated, the Contractor shall remain liable (in addition to accrued liabilities) to the extent legally permissible for the amounts that the Contractor would have been required to pay to the Airports Authority had the Contract not been terminated. The Contractor shall also pay as damages the Airports Authority’s expenses for reentering or repossessing the Premises Display Locations and FacilitiesMediums, for putting the Premises Display Locations and Facilities Mediums in proper repair, and for altering the same for a replacement contractor. In addition, the Contractor shall pay to the Airports Authority such sums as the court which has jurisdiction there over may adjudge as reasonable attorney’s fees with respect to any successful lawsuit or action instituted by the Airports Authority to enforce the provisions of this Contract. (4d) The Airports Authority may enter into a new contract with another contractor that will occupy the Premises Display Locations and Facilities Mediums for all or any part of the unexpired portion of the Contract Term or for any longer period. The Airports Authority has the sole and absolute discretion with respect to the selection of a new contractor and its use of the PremisesPremises and Equipment and Fixtures. (5e) If the Contractor is in Default under this Contract, the Airports Authority may, after providing written notice to the Contractor of the Default, cure the Default at any time through any action deemed appropriate by the Airports Authority for the account and at the expense of the Contractor. The Contractor shall reimburse the Airports Authority for any amounts expended by the Airports Authority in connection with the cure. Such cure shall not constitute a waiver of the Airports Authority's rights with respect to that or any other Default, unless otherwise expressly stated in writing by the Airports Authority. (6f) The Airports Authority's rights and remedies set forth herein shall be in addition to any other right or remedy now and hereafter provided by law. All rights and remedies shall be cumulative and not exclusive of each other. No delay by the Airports Authority in exercising a right or remedy shall constitute a waiver or acquiescence to the Default. No waiver of a Default shall be effective unless it is in writing. No waiver of a Default shall extend or affect any other Default or impair any right or remedy with respect thereto. (7g) The right to withhold amounts due to the Contractor or lien on the personal property of the Contractor is expressly granted to the Airports Authority in any case where the Contractor fails to pay amounts due to the Airports Authority under this Contract. The Authority may deduct any amounts that the Contractor owes to the Authority from amounts that the Authority owes to the Contractor. (8) h) The Airports Authority shall not be liable for any damage, including, but not limited to, loss of profit, and the Contractor shall not make a claim of any kind whatsoever against the Airports Authority, its agents or representatives, by reason of any action taken pursuant to this Section. (9i) To the extent that the Airports Authority’s right to terminate this Contract in accordance with this Article is temporarily or otherwise unenforceable under 11 U.S.C. U.S. C. Section 101 et. seq. as amended from time to time (“Bankruptcy Code”), or under any other statute, then Contractor as well as any trustee for the estate of Contractor agree to: (1) perform promptly every obligation of Contractor under this Contract (other than non-monetary obligations of the Contractor that are not capable of being performed due to the filing of a bankruptcy case by the Contractor under the Bankruptcy Code) until this Contract is either rejected, assumed or deemed rejected under the Bankruptcy Code; (2) pay the post-petition monthly payments of rent and other fees and expenses as and when such payments become due under the Contract;; (3) assume or reject this Contract within the minimum period of time provided for so doing under the Bankruptcy Code and in connection therewith, Contractor hereby waives any right to request extensions of such time period unless the Airports Authority agrees in writing to permit an extended time period; (4) provide the Airports Authority at least thirty (30) days prior written notice of any intended filing relating to its assumption of this Contract and in such notice, provide detail regarding any proposed assignee of the Contract, including financial information regarding such intended assignee; (5) upon the assumption of the Contract, cure any pre- petition default of Contractor under the Contract and provide the Airports Authority with adequate assurance regarding the ability of Contractor to continue to comply with the Contract; (6) provide the Airports Authority adequate assurance of future performance under the Contract by the Contractor or Contractor’s assignee. Nothing herein shall be deemed consent by Airports Authority regarding Contractor’s ability to assign this Contract to any third party without Airports Authority’s written consent. For purposes of this paragraph, “adequate assurance of future performance” shall be determined by the Airports Authority in its sole discretion, provided however that Airports Authority shall be reasonable in such determination. If there exists any post-petition default under the Contract, Contractor agrees to consent in writing to relief from the automatic stay under the Bankruptcy Code in favor of the Airports Authority to enable Airports Authority to terminate the Contract as expeditiously as possible.

Appears in 1 contract

Sources: Advertising Concession Contract

Consequences of a Default. (1) . If a Default occurs, the Authority may, but is not obligated to, may give to the Contractor a notice of Default and, in the Authority’s sole discretion, may provide and an opportunity to cure. If a cure is allowed, and if the Contractor has not cured cured, or made reasonable progress to cure the Default within fifteen (15) days from the Contractor’s receipt of the notice, the Authority may immediately terminate the Contract by written notice to the Contractor. The Contractor agrees that the Authority may also cure any Default in the Contractor’s performance and charge the Contractor for the cost of the cure plus a ten percent (10%) administration fee. Upon the Contractor’s receipt of a written notice of termination, the Contractor shall immediately take the following actions: quit the Premises and Facilities and return them to the Authority’s control; return the Operating Equipment to the Authority; deliver all Operating Receipts to the Authority’s Authorized Banking Account designated at Exhibit K; deliver all accounts, invoices, and other books and records to the Authority; and take all other actions desirable or directed by . If the Authority elects to provide for a smooth transition of operations to the Authority directly or to its designee without loss or delay. Upon any terminationterminate this Contract, every obligation contained in this Contract to be performed by the Authority shall cease; the Supplemental Lease Agreement shall terminate; and the Contractor shall have no further authority to take any action on behalf of the Authority. (2) . When this Contract is terminated, the Contractor shall immediately vacate the Premises and Facilities and the Authority or its agents or employees may immediately or at any time thereafter, re-enter the Premises and Facilities and remove the Contractor, its agents, subcontractors, invitees, invitees and property. Re-entry and removal may be effected by summary dispossess proceedings, by any suitable action or proceeding at law, by force, or otherwise. The Authority shall be entitled to the benefits of all provisions of law respecting speedy recovery of the Premises and Facilities held over by the Contractor. Any other notice to quit or re-enter the Premises and Facilities is hereby expressly waived by the Contractor. The Authority shall not be liable in any way in connection with any action it takes pursuant to this Section. The Contractor's liability shall survive the Authority's re-entry, the institution of summary proceedings, and the issuance of any warrants with respect thereto. (3) . If this Contract is terminated, the Contractor shall remain liable (in addition to accrued liabilities) to the extent legally permissible for the amounts that the Contractor would have been required to pay to the Authority had the Contract not been terminated. The Contractor shall also pay as damages the Authority’s expenses for reentering or repossessing the Premises and Facilities, for putting the Premises and Facilities in proper repair, and for altering the same for a replacement contractor. In addition, the Contractor shall pay to the Authority such sums as the court which has jurisdiction there over may adjudge as reasonable attorney’s attorneys fees with respect to any successful lawsuit or action instituted by the Authority to enforce the provisions of this Contract. (4) The Authority may enter into a new contract with another contractor that will occupy the Premises and Facilities for all or any part of the unexpired portion of the Contract Term or for any longer period. The Authority has the sole and absolute discretion with respect to the selection of a new contractor and its use of the Premises. (5) If the Contractor is in Default under this Contract, the Authority may, after providing written notice to the Contractor of the Default, cure the Default at any time through any action deemed appropriate by the Authority for the account and at the expense of the Contractor. The Contractor shall reimburse the Authority for any amounts expended by the Authority in connection with the cure. Such cure shall not constitute a waiver of the Authority's rights with respect to that or any other Default, unless otherwise expressly stated in writing by the Authority. (6) The Authority's rights and remedies set forth herein shall be in addition to any other right or remedy now and hereafter provided by law. All rights and remedies shall be cumulative and not exclusive of each other. No delay by the Authority in exercising a right or remedy shall constitute a waiver or acquiescence to the Default. No waiver of a Default shall be effective unless it is in writing. No waiver of a Default shall extend or affect any other Default or impair any right or remedy with respect thereto. (7) The right to withhold amounts due to the Contractor or lien on the personal property of the Contractor is expressly granted to the Authority in any case where the Contractor fails to pay amounts due to the Authority under this Contract. The Authority may deduct any amounts that the Contractor owes to the Authority from amounts that the Authority owes to the Contractor. (8) The Authority shall not be liable for any damage, including, but not limited to, loss of profit, and the Contractor shall not make a claim of any kind whatsoever against the Authority, its agents or representatives, by reason of any action taken pursuant to this Section. (9) To the extent that the Authority’s right to terminate this Contract is temporarily or otherwise unenforceable under 11 U.S.C. Section 101 et. seq. as amended from time to time (“Bankruptcy Code”), or under any other statute, then Contractor as well as any trustee for the estate of Contractor agree to: (1) perform promptly every obligation of Contractor under this Contract (other than monetary obligations of the Contractor that are not capable of being performed due to the filing of a bankruptcy case by the Contractor under the Bankruptcy Code) until this Contract is either rejected, assumed or deemed rejected under the Bankruptcy Code; (2) pay the post-petition monthly payments of rent and other fees and expenses as and when such payments become due under the Contract;

Appears in 1 contract

Sources: Concession Contract

Consequences of a Default. (1) . If a Default occurs, the Authority may, but is not obligated to, may give to the Contractor a notice of Default and, in the Authority’s sole discretion, may provide and an opportunity to cure. If a cure is allowed, and if the Contractor has not cured cured, or made reasonable progress to cure the Default within fifteen (15) days from the Contractor’s receipt of the notice, the Authority may immediately terminate the Contract by written notice to the Contractor. The Contractor agrees that the Authority may also cure any Default in the Contractor’s performance and charge the Contractor for the cost of the cure plus a ten percent (10%) administration fee. Upon the Contractor’s receipt of a written notice of termination, the Contractor shall immediately take the following actions: quit the Premises and Facilities and return them to the Authority’s control; return the Operating Equipment to the Authority; deliver all Operating Receipts to the Authority’s Authorized Banking Account designated at Exhibit K; deliver all accounts, invoices, and other books and records to the Authority; and take all other actions desirable or directed by . If the Authority elects to provide for a smooth transition of operations to the Authority directly or to its designee without loss or delay. Upon any terminationterminate this Contract, every obligation contained in this Contract to be performed by the Authority shall cease; the Supplemental Lease Agreement shall terminate; and the Contractor shall have no further authority to take any action on behalf of the Authority. (2) . When this Contract is terminated, the Contractor shall immediately vacate the Premises and Facilities and the Authority or its agents or employees may immediately or at any time thereafter, re-enter the Premises and Facilities and remove the Contractor, its agents, subcontractors, invitees, and property. Re-entry and removal may be effected by summary dispossess proceedings, by any suitable action or proceeding at law, by force, or otherwise. The Authority shall be entitled to the benefits of all provisions of law respecting speedy recovery of the Premises and Facilities held over by the Contractor. Any other notice to quit or re-enter the Premises and Facilities is hereby expressly waived by the Contractor. The Authority shall not be liable in any way in connection with any action it takes pursuant to this Section. The Contractor's liability shall survive the Authority's re-entry, the institution of summary proceedings, and the issuance of any warrants with respect thereto. (3) . If this Contract is terminated, the Contractor shall remain liable (in addition to accrued liabilities) to the extent legally permissible for the amounts that the Contractor would have been required to pay to the Authority had the Contract not been terminated. The Contractor shall also pay as damages the Authority’s expenses for reentering or repossessing the Premises and Facilities, for putting the Premises and Facilities in proper repair, and for altering the same for a replacement contractor. In addition, the Contractor shall pay to the Authority such sums as the court which has jurisdiction there over may adjudge as reasonable attorney’s attorneys fees with respect to any successful lawsuit or action instituted by the Authority to enforce the provisions of this Contract. (4) . The Authority may enter into a new contract with another contractor that will occupy the Premises and Facilities for all or any part of the unexpired portion of the Contract Term or for any longer period. The Authority has the sole and absolute discretion with respect to the selection of a new contractor and its use of the PremisesPremises and Facilities. (5) . If the Contractor is in Default under this Contract, the Authority may, after providing written notice to the Contractor of the Default, cure the Default at any time through any action deemed appropriate by the Authority for the account and at the expense of the Contractor. The Contractor shall reimburse the Authority for any amounts expended by the Authority in connection with the cure. Such cure shall not constitute a waiver of the Authority's rights with respect to that or any other Default, unless otherwise expressly stated in writing by the Authority. (6) . The Authority's rights and remedies set forth herein shall be in addition to any other right or remedy now and hereafter provided by law. All rights and remedies shall be cumulative and not exclusive of each other. No delay by the Authority in exercising a right or remedy shall constitute a waiver or acquiescence to the Default. No waiver of a Default shall be effective unless it is in writing. No waiver of a Default shall extend or affect any other Default or impair any right or remedy with respect thereto. (7) . The right to withhold amounts due to the Contractor or lien on the personal property of the Contractor is expressly granted to the Authority in any case where the Contractor fails to pay amounts due to the Authority under this Contract. The Authority may deduct any amounts that the Contractor owes to the Authority from amounts that the Authority owes to the Contractor. (8) 8. The Authority shall not be liable for any damage, including, but not limited to, loss of profit, and the Contractor shall not make a claim of any kind whatsoever against the Authority, its agents or representatives, by reason of any action taken pursuant to this Section. (9) . To the extent that the Authority’s 's right to terminate this Contract is temporarily or otherwise determined to be unenforceable under 11 U.S.C. Section 101 et. seq. the Bankruptcy Code of 1978, as amended from time to time (“Bankruptcy the "Code"), or under any other statute, then the Contractor as well as and any trustee for the estate of Contractor agree to: who may be appointed agree: (1) to perform promptly every obligation of the Contractor under this Contract (other than monetary obligations of the Contractor that are not capable of being performed due to the filing of a bankruptcy case by the Contractor under the Bankruptcy Code) until this Contract is either rejected, assumed or deemed rejected under the Bankruptcy Code; (2) pay to reject or assume this Contract within sixty (60) days of a filing of a petition under the postCode; (3) to give the Authority at least forty-petition monthly payments five (45) days prior written notice of rent and other fees and expenses as and when such payments become due any proceeding relating to assumption of this Contract; (4) to cure or provide adequate assurance of a prompt cure of any Default of the Contractor under this Contract; (5) to provide to the Authority adequate assurance of future performance under the Contract;.

Appears in 1 contract

Sources: Management Contract

Consequences of a Default. (1) . If a Default occurs, the Airports Authority may, but is not obligated to, may give to the Contractor a notice of Default and, in the Authority’s sole discretion, may provide and an opportunity to cure. If a cure is allowed, and if the Contractor has not cured cured, or made reasonable progress to cure the Default within fifteen (15) days from the Contractor’s receipt of the notice, the Airports Authority may immediately terminate the Contract by written notice to the Contractor. The Contractor agrees that the Authority may also cure any Default in the Contractor’s performance and charge the Contractor for the cost of the cure plus a ten percent (10%) administration fee. Upon the Contractor’s receipt of a written notice of termination, the Contractor shall immediately take the following actions: quit the Premises and Facilities and return them to the Airports Authority’s control; return . If the Operating Equipment Airports Authority elects to the Authority; deliver all Operating Receipts to the Authority’s Authorized Banking Account designated at Exhibit K; deliver all accounts, invoices, and other books and records to the Authority; and take all other actions desirable or directed by the Authority to provide for a smooth transition of operations to the Authority directly or to its designee without loss or delay. Upon any terminationterminate this Contract, every obligation contained in this Contract to be performed by the Airports Authority shall cease; the Supplemental Lease Agreement shall terminate; and the Contractor shall have no further authority to take any action on behalf of the Authority. (2) . When this Contract is terminated, the Contractor shall immediately vacate the Premises and Facilities and the Airports Authority or its agents or employees may immediately or at any time thereafter, re-enter the Premises and Facilities and remove the Contractor, its agents, subcontractors, invitees, invitees and property. Re-entry and removal may be effected by summary dispossess proceedings, by any suitable action or proceeding at law, by force, or otherwise. The Airports Authority shall be entitled to the benefits of all provisions of law respecting speedy recovery of the Premises and Facilities held over by the Contractor. Any other notice to quit or re-enter the Premises and Facilities is hereby expressly waived by the Contractor. The Airports Authority shall not be liable in any way in connection with any action it takes pursuant to this Section. The Contractor's liability shall survive the Airports Authority's re-entry, the institution of summary proceedings, and the issuance of any warrants with respect thereto. (3) . If this Contract is terminated, the Contractor shall remain liable (in addition to accrued liabilities) to the extent legally permissible for the amounts that the Contractor would have been required to pay to the Airports Authority had the Contract not been terminated. The Contractor shall also pay as damages the Airports Authority’s expenses for reentering or repossessing the Premises and Facilities, for putting the Premises and Facilities in proper repair, and for altering the same for a replacement contractor. In addition, the Contractor shall pay to the Airports Authority such sums as the court which has jurisdiction there over may adjudge as reasonable attorney’s attorneys fees with respect to any successful lawsuit or action instituted by the Airports Authority to enforce the provisions of this Contract. (4) The Authority may enter into a new contract with another contractor that will occupy the Premises and Facilities for all or any part of the unexpired portion of the Contract Term or for any longer period. The Authority has the sole and absolute discretion with respect to the selection of a new contractor and its use of the Premises. (5) If the Contractor is in Default under this Contract, the Authority may, after providing written notice to the Contractor of the Default, cure the Default at any time through any action deemed appropriate by the Authority for the account and at the expense of the Contractor. The Contractor shall reimburse the Authority for any amounts expended by the Authority in connection with the cure. Such cure shall not constitute a waiver of the Authority's rights with respect to that or any other Default, unless otherwise expressly stated in writing by the Authority. (6) The Authority's rights and remedies set forth herein shall be in addition to any other right or remedy now and hereafter provided by law. All rights and remedies shall be cumulative and not exclusive of each other. No delay by the Authority in exercising a right or remedy shall constitute a waiver or acquiescence to the Default. No waiver of a Default shall be effective unless it is in writing. No waiver of a Default shall extend or affect any other Default or impair any right or remedy with respect thereto. (7) The right to withhold amounts due to the Contractor or lien on the personal property of the Contractor is expressly granted to the Authority in any case where the Contractor fails to pay amounts due to the Authority under this Contract. The Authority may deduct any amounts that the Contractor owes to the Authority from amounts that the Authority owes to the Contractor. (8) The Authority shall not be liable for any damage, including, but not limited to, loss of profit, and the Contractor shall not make a claim of any kind whatsoever against the Authority, its agents or representatives, by reason of any action taken pursuant to this Section. (9) To the extent that the Authority’s right to terminate this Contract is temporarily or otherwise unenforceable under 11 U.S.C. Section 101 et. seq. as amended from time to time (“Bankruptcy Code”), or under any other statute, then Contractor as well as any trustee for the estate of Contractor agree to: (1) perform promptly every obligation of Contractor under this Contract (other than monetary obligations of the Contractor that are not capable of being performed due to the filing of a bankruptcy case by the Contractor under the Bankruptcy Code) until this Contract is either rejected, assumed or deemed rejected under the Bankruptcy Code; (2) pay the post-petition monthly payments of rent and other fees and expenses as and when such payments become due under the Contract;

Appears in 1 contract

Sources: Concession Contract

Consequences of a Default. (1) If a Default occurs, the Authority may, but is not obligated to, give to the Contractor a notice of Default and, in the Authority’s sole discretion, may provide an opportunity to cure. If a cure is allowed, and if the Contractor has not cured or made reasonable progress to cure the Default within fifteen (15) days from the Contractor’s receipt of the notice, the Authority may immediately terminate the Contract by written notice to the Contractor. The Contractor agrees that the Authority may also cure any Default in the Contractor’s performance and charge the Contractor for the cost of the cure plus a ten percent (10%) administration fee. Upon the Contractor’s receipt of a written notice of termination, the Contractor shall immediately take the following actions: quit the Premises and return them to the Authority’s control; return the Operating Equipment to the Authority; deliver all Operating Receipts to the Authority’s Authorized Banking Account designated at Exhibit K; deliver all accounts, invoices, and other books and records to the Authority; and take all other actions desirable or directed by the Authority to provide for a smooth transition of operations to the Authority directly or to its designee without loss or delay. Upon any termination, every obligation contained in this Contract to be performed by the Authority shall cease; the Supplemental Lease Agreement shall terminate; and the Contractor shall have no further authority to take any action on behalf of the Authority. (2) When this Contract is terminated, the Contractor shall immediately vacate the Premises and Facilities return the Operating Equipment clean, in good repair, and in working order, and the Authority or its agents or employees may immediately or at any time thereafter, re-enter the Premises and Facilities and remove the Contractor, its agents, subcontractors, invitees, and property. Re-entry and removal may be effected by summary dispossess proceedings, by any suitable action or proceeding at law, by force, or otherwise. The Authority shall be entitled to the benefits of all provisions of law respecting speedy recovery of the Premises and Facilities held over by the Contractor. Any other notice to quit or re-enter the Premises and Facilities is hereby expressly waived by the Contractor. The Authority shall not be liable in any way in connection with any action it takes pursuant to this Section. The Contractor's liability shall survive the Authority's re-entry, the institution of summary proceedings, and the issuance of any warrants with respect thereto. (3) If this Contract is terminated, the Contractor shall remain liable (in addition to accrued liabilities) to the extent legally permissible for the amounts that the Contractor would have been required to pay to the Authority had the Contract not been terminated. The Contractor shall also pay as damages the Authority’s expenses for reentering or repossessing the Premises and FacilitiesPremises, for putting the Premises and Facilities in proper repair, and for altering the same for a replacement contractor. In addition, the Contractor shall pay to the Authority such sums as the court which has jurisdiction there over thereover may adjudge as reasonable attorney’s fees with respect to any successful lawsuit or action instituted by the Authority to enforce the provisions of this Contract. (4) The Authority may enter into a new contract with another contractor that will occupy the Premises and Facilities for all or any part of the unexpired portion of the Contract Term or for any longer period. The Authority has the sole and absolute discretion with respect to the selection of a new contractor and its use of the Premises. (5) If the Contractor is in Default under this Contract, the Authority may, after providing written notice to the Contractor of the Default, cure the Default at any time through any action deemed appropriate by the Authority for the account and at the expense of the Contractor. The Contractor shall reimburse the Authority for any amounts expended by the Authority in connection with the cure. Such cure shall not constitute a waiver of the Authority's rights with respect to that or any other Default, unless otherwise expressly stated in writing by the Authority. (6) The Authority's rights and remedies set forth herein shall be in addition to any other right or remedy now and hereafter provided by law. All rights and remedies shall be cumulative and not exclusive of each other. No delay by the Authority in exercising a right or remedy shall constitute a waiver or acquiescence to the Default. No waiver of a Default shall be effective unless it is in writing. No waiver of a Default shall extend or affect any other Default or impair any right or remedy with respect thereto. (7) The right to withhold amounts due to the Contractor or lien on the personal property of the Contractor is expressly granted to the Authority in any case where the Contractor fails to pay amounts due to the Authority under this Contract. The Authority may deduct any amounts that the Contractor owes to the Authority from amounts that the Authority owes to the Contractor. (8) The Authority shall not be liable for any damage, including, but not limited to, loss of profit, and the Contractor shall not make a claim of any kind whatsoever against the Authority, its agents or representatives, by reason of any action taken pursuant to this Section. (9) To the extent that the Authority’s right to terminate this Contract is temporarily or otherwise unenforceable under 11 U.S.C. Section 101 et. seq. as amended from time to time (“Bankruptcy Code”), or under any other statute, then Contractor as well as any trustee for the estate of Contractor agree to: (1) perform promptly every obligation of Contractor under this Contract (other than monetary obligations of the Contractor that are not capable of being performed due to the filing of a bankruptcy case by the Contractor under the Bankruptcy Code) until this Contract is either rejected, assumed or deemed rejected under the Bankruptcy Code; (2) pay the post-petition monthly payments of rent and other fees and expenses as and when such payments become due under the Contract;

Appears in 1 contract

Sources: Concession Management Contract

Consequences of a Default. (1) If a Default occurs, the Authority may, but is not obligated to, give to the Contractor a notice of Default and, in the Authority’s sole discretion, may provide an opportunity to cure. If a cure is allowed, and if the Contractor has not cured or made reasonable progress to cure the Default within fifteen (15) days from the Contractor’s receipt of the notice, the Authority may immediately terminate the Contract by written notice to the Contractor. The Contractor agrees that the Authority may also cure any Default in the Contractor’s performance and charge the Contractor for the cost of the cure plus a ten percent (10%) administration fee. Upon the Contractor’s receipt of a written notice of termination, the Contractor shall immediately take the following actions: quit the Premises and return them to the Authority’s control; return the Operating Equipment to the Authority; deliver all Operating Receipts to the Authority’s Authorized Banking Account designated at Exhibit K; deliver all accounts, invoices, and other books and records to the Authority; and take all other actions desirable or directed by the Authority to provide for a smooth transition of operations to the Authority directly or to its designee without loss or delay. Upon any termination, every obligation contained in this Contract to be performed by the Authority shall cease; the Supplemental Lease Agreement shall terminate; and the Contractor shall have no further authority to take any action on behalf of the Authority.Exhibit (2) When this Contract is terminated, the Contractor shall immediately vacate the Premises and Facilities return the Operating Equipment clean, in good repair, and in working order, and the Authority or its agents or employees may immediately or at any time thereafter, re-enter the Premises and Facilities and remove the Contractor, its agents, subcontractors, invitees, and property. Re-entry and removal may be effected by summary dispossess proceedings, by any suitable action or proceeding at law, by force, or otherwise. The Authority shall be entitled to the benefits of all provisions of law respecting speedy recovery of the Premises and Facilities held over by the Contractor. Any other notice to quit or re-enter the Premises and Facilities is hereby expressly waived by the Contractor. The Authority shall not be liable in any way in connection with any action it takes pursuant to this Section. The Contractor's liability shall survive the Authority's re-entry, the institution of summary proceedings, and the issuance of any warrants with respect thereto. (3) If this Contract is terminated, the Contractor shall remain liable (in addition to accrued liabilities) to the extent legally permissible for the amounts that the Contractor would have been required to pay to the Authority had the Contract not been terminated. The Contractor shall also pay as damages the Authority’s expenses for reentering or repossessing the Premises and FacilitiesPremises, for putting the Premises and Facilities in proper repair, and for altering the same for a replacement contractor. In addition, the Contractor shall pay to the Authority such sums as the court which has jurisdiction there over thereover may adjudge as reasonable attorney’s fees with respect to any successful lawsuit or action instituted by the Authority to enforce the provisions of this Contract. (4) The Authority may enter into a new contract with another contractor that will occupy the Premises and Facilities for all or any part of the unexpired portion of the Contract Term or for any longer period. The Authority has the sole and absolute discretion with respect to the selection of a new contractor and its use of the Premises. (5) If the Contractor is in Default under this Contract, the Authority may, after providing written notice to the Contractor of the Default, cure the Default at any time through any action deemed appropriate by the Authority for the account and at the expense of the Contractor. The Contractor shall reimburse the Authority for any amounts expended by the Authority in connection with the cure. Such cure shall not constitute a waiver of the Authority's rights with respect to that or any other Default, unless otherwise expressly stated in writing by the Authority. (6) The Authority's rights and remedies set forth herein shall be in addition to any other right or remedy now and hereafter provided by law. All rights and remedies shall be cumulative and not exclusive of each other. No delay by the Authority in exercising a right or remedy shall constitute a waiver or acquiescence to the Default. No waiver of a Default shall be effective unless it is in writing. No waiver of a Default shall extend or affect any other Default or impair any right or remedy with respect thereto. (7) The right to withhold amounts due to the Contractor or lien on the personal property of the Contractor is expressly granted to the Authority in any case where the Contractor fails to pay amounts due to the Authority under this Contract. The Authority may deduct any amounts that the Contractor owes to the Authority from amounts that the Authority owes to the Contractor. (8) The Authority shall not be liable for any damage, including, but not limited to, loss of profit, and the Contractor shall not make a claim of any kind whatsoever against the Authority, its agents or representatives, by reason of any action taken pursuant to this Section. (9) To the extent that the Authority’s right to terminate this Contract is temporarily or otherwise unenforceable under 11 U.S.C. Section 101 et. seq. as amended from time to time (“Bankruptcy Code”), or under any other statute, then Contractor as well as any trustee for the estate of Contractor agree to: (1) perform promptly every obligation of Contractor under this Contract (other than monetary obligations of the Contractor that are not capable of being performed due to the filing of a bankruptcy case by the Contractor under the Bankruptcy Code) until this Contract is either rejected, assumed or deemed rejected under the Bankruptcy Code; (2) pay the post-petition monthly payments of rent and other fees and expenses as and when such payments become due under the Contract;

Appears in 1 contract

Sources: Concession Management Contract