Common use of Default by Owner Clause in Contracts

Default by Owner. If Owner fails to make payment of any Rental within five days of delivery by ▇▇▇▇▇▇ of notice of any Rental that is past due, or fails to cure any other default under this Agreement within ten days of delivery by ▇▇▇▇▇▇ of such default, then an “Owner Event of Default” shall exist and ▇▇▇▇▇▇ shall have the following remedies, which shall be cumulative rather than exclusive: ● the right to terminate this Agreement, and the grant of the Lease hereunder, which termination right may be exercised by written notice by ▇▇▇▇▇▇ to Owner, and which termination shall be effective as of the date of such notice; ● the right to immediately enter upon and repossess the Designated Item Space and all appurtenances thereto, by forcible entry and detainer suit, or otherwise; ● the right to remove Owner’s Item (and any personal property then inside Owner’s Item from its mooring, and to store Owner’s Item (and such personal property), with all risk of loss belonging solely to Owner, and with no liability whatsoever to Marina, and with all costs of storage being deemed to be including among the past due Monthly Rental under this Agreement; ● the right to make any required repairs to the Designated Item Space, or to expend any other sums required to cure any defaults by Owner under this Agreement, with all such sums expended being deemed to be included among the past due Rental under this Agreement; ● the right to terminate Owner’s rights of possession with regard to the Designated Item Space and all appurtenances thereto, without demand or notice of any kind an without terminating this Agreement, in which event ▇▇▇▇▇▇ ▇▇▇, but shall be under no obligation to, relet all or any part of the Designated Item Space for credit to Owner’s account, on such terms and conditions as ▇▇▇▇▇▇ in its sole discretion shall deem appropriate; and ● the right to exercise ▇▇▇▇▇▇’s rights under the Michigan Uniform Commercial Code with regard to the security interest granted to ▇▇▇▇▇▇ in the Secured Property. In the event of any Owner Event of Default, ▇▇▇▇▇▇ shall have the right to recover from Owner, whether by way of sale of the Secured Property, or by means of execution and levy on a judgment, or by means of voluntary payment by Owner, or by some combination thereof: (a) all Rental that is past due, including any late payment fees due in connection therewith, (b) all Rental to come due during the remainder of the Term (assuming that ▇▇▇▇▇▇ has not terminated this Agreement and the Lease hereunder), (c) ▇▇▇▇▇▇’s reasonable and necessary attorneys’ fees and costs of court, (d) pre-judgment at the lesser of 8% per annum or the maximum allowed by law, and

Default by Owner. (a) If Owner fails shall default under the Loan Documents, Owner directs Tenant to, and Tenant agrees to, recognize the assignment of rents made by Owner to make payment Lender in the Loan Documents, and to pay to Lender as assignee all rents due under the Lease, commencing upon Tenant’s receipt of written notice from Lender that Owner is in default under the Loan Documents. Owner hereby authorizes Tenant to accept that direction from Lender and waives all claims against Tenant for any sums so paid at Lender’s direction. Such payments of rent by Tenant to Lender by reason of that assignment and of Owner’s default shall continue until the first to occur of the following: (i) No further rent is due or payable under the Lease; (ii) Lender gives Tenant notice that the default of Owner under the Loan Documents has been cured and instructs Tenant that the rents shall thereafter be payable to Owner; or (iii) A Transfer occurs and Successor gives Tenant notice of the Transfer. The Successor shall thereupon succeed to the interest of Owner as owner under the Lease, after which time the rents and other benefits of Owner under the Lease shall be payable to Successor. (b) If Owner shall default under the Loan Documents, Lender shall deliver to Tenant, in the manner set forth in this Agreement, simultaneously with the delivery to Owner, a copy of any Rental within five days of delivery by ▇▇▇▇▇▇ of notice of any Rental that default which Lender is past due, or fails required to cure any other default give to Owner under this Agreement within ten days of delivery by ▇▇▇▇▇▇ of such default, then an “Owner Event of Default” shall exist and ▇▇▇▇▇▇ the Loan Documents. Tenant shall have the following remediessame period of time (that is, which shall be cumulative rather than exclusive: ● the right to terminate this Agreement, and the grant of the Lease hereunder, which termination right may be exercised by written notice by ▇▇▇▇▇▇ to Owner, and which termination shall be effective as of the date of such notice; ● the right to immediately enter upon and repossess the Designated Item Space and all appurtenances thereto, by forcible entry and detainer suit, or otherwise; ● the right to remove Owner’s Item (time period and any personal property then inside OwnerTenant’s Item from its mooring, and to store Owner’s Item (and such personal property), with all risk of loss belonging solely to Owner, and with no liability whatsoever to Marina, and with all costs of storage being deemed to be including among time period shall run concurrently) as Owner has under the past due Monthly Rental under this Agreement; ● the right to make any required repairs to the Designated Item Space, or to expend any other sums required Loan Documents to cure any defaults by Owner under this Agreement, with all such sums expended being deemed to be included among the past due Rental under this Agreement; ● the right to terminate Owner’s rights of possession with regard to the Designated Item Space and all appurtenances thereto, without demand or notice of any kind an without terminating this Agreement, in which event ▇▇▇▇▇▇ ▇▇▇, default (but Tenant shall be under have no obligation to, relet all or any part of to cure the Designated Item Space for credit to Ownerdefault) and Lender shall accept Tenant’s account, on such terms and conditions as ▇▇▇▇▇▇ in its sole discretion shall deem appropriate; and ● the right to exercise ▇▇▇▇▇▇’s rights under the Michigan Uniform Commercial Code with regard to the security interest granted to ▇▇▇▇▇▇ in the Secured Property. In the event of any Owner Event of Default, ▇▇▇▇▇▇ shall have the right to recover from Owner, whether by way of sale of the Secured Property, or by means of execution and levy on a judgment, or by means of voluntary payment by Owner, or by some combination thereof: (a) all Rental that is past due, including any late payment fees due in connection therewith, (b) all Rental to come due during the remainder of the Term (assuming that ▇▇▇▇▇▇ has not terminated this Agreement and the Lease hereunder), (c) ▇▇▇▇▇▇’s reasonable and necessary attorneys’ fees and costs of court, (d) pre-judgment at the lesser of 8% per annum or the maximum allowed by law, andcure.

Default by Owner. If Owner fails to make payment In the event that an Owner(s) of any Rental within five days of delivery by ▇▇▇▇▇▇▇ of notice of any Rental that is past due▇, or fails to cure any other default under this Agreement within ten days of delivery by ▇▇▇▇▇ & ▇ ▇▇ of such default, then an “Owner Event of Default” shall exist and ▇▇▇▇▇▇ shall have the following remedies, which shall be cumulative rather than exclusive: ● the right to terminate this Agreement, and the grant of the Lease hereunder, which termination right may be exercised by written notice by ▇▇▇▇▇▇ to Owner, and which termination shall be effective as of the date of such notice; ● the right to immediately enter upon and repossess the Designated Item Space and all appurtenances thereto, by forcible entry and detainer suit, or otherwise; ● the right to remove Owner’s Item (and any personal property then inside Owner’s Item from its mooring, and to store Owner’s Item (and such personal property), with all risk of loss belonging solely to Owner, and with no liability whatsoever to Marina, and with all costs of storage being deemed to be including among the past due Monthly Rental under this Agreement; ● the right to make any required repairs to the Designated Item Space, or to expend any other sums required to cure any defaults by Owner under this Agreement, with all such sums expended being deemed to be included among the past due Rental under this Agreement; ● the right to terminate Owner’s rights of possession with regard to the Designated Item Space and all appurtenances thereto, without demand or notice of any kind an without terminating this Agreement, in which event ▇▇▇▇▇▇ ▇▇▇, but shall be under no obligation to, relet all or any part of the Designated Item Space for credit to Owner’s account, on such terms and conditions as ▇▇ ▇▇▇▇▇▇▇ Subdivision and/or the Adjacent Parcel Owners have failed to comply with any of the responsibilities set forth in its sole discretion this LSDE, the Village and/or any Adjacent Parcel Owner shall deem appropriate; give written notice to the Owner(s) at fault, identifying any said default, and ● requiring compliance within the right period of time stated in sections 6 and 7, as applicable. In the event the Owner(s) fails to exercise complete any actions required to remedy the default within said time period, unless extended in writing, Owner consents that the Village and/or an Adjacent Parcel Owner may enter the property on which private storm water management systems and practices are located, correct the default and do any one or more of the following: (a) charge the cost of such corrective action plus fifteen percent (15%) for inspections and administration to the Owner(s) of ▇▇▇▇▇▇’s rights under the Michigan Uniform Commercial Code with regard to the security interest granted to ▇ ▇, ▇ &/▇▇ ▇ ▇▇ ▇▇▇▇▇▇ in the Secured Property. In the event of any Owner Event of Default, ▇▇▇▇▇ ▇▇▇▇▇▇▇ Subdivision and/or the Adjacent Parcel Owners as the case may be. If the Owner fails to pay for said costs of corrective action within thirty (30) days, then the Village and/or Adjacent Parcel Owner, as applicable, shall have a lien against the right to recover from Property of that Owner, whether plus interest at the then current statutory rate. In any legal action to enforce the lien, the lienholder shall be entitled to all costs and expenses, including costs of preliminary and final judicial reports, filing fees, costs, and reasonable attorney’s fees;(b) certify all costs that were incurred by way of sale the Village to the tax duplicate of the Secured Property, or by means Owner(s) of execution and levy on a judgment, or by means of voluntary payment by Owner, or by some combination thereof: (a) all Rental that is past due, including any late payment fees due in connection therewith, (b) all Rental to come due during the remainder of the Term (assuming that ▇▇▇▇▇▇▇ has not terminated this Agreement and the Lease hereunder)▇, (c) ▇ &/▇▇ ▇ ▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇’s reasonable ▇ Subdivision and/or the Adjacent Parcel Owners as the case may be because the failure to maintain the easement area constitutes a nuisance; and/or (c) file a special assessment against the sublots in the Pebble Brook Estates Subdivision pursuant to the provisions of Chapter 727 or 729 of the Ohio Revised Code. In the event that the Village has to exercise the right to certify the costs to the tax duplicate pursuant to Section 13(b) or to file for a special assessment pursuant to Section 13(c), the Owners and necessary attorneys’ fees Adjacent Parcel Owners, and costs their heirs, executors and assigns by accepting the deed to a sublot in this Subdivision, consent to the assessment under either Section 13(b) or 13(c) of courtthis Section and any such Owners and Adjacent Parcel Owners, (d) pre-judgment at the lesser of 8% per annum or the maximum allowed by lawand their heirs, andexecutors and assigns hereby waive any right to object to any such assessment.

Default by Owner. If Owner fails to make payment of any Rental within five days of delivery by ▇▇▇▇▇▇ of notice of any Rental that is past due, or fails to cure any other default under this Agreement within ten days of delivery by ▇▇▇▇▇▇ of such default, then an “Owner Event of Default” shall exist and ▇▇▇▇▇▇ shall have the following remedies, which shall be cumulative rather than exclusive: ● the right to terminate this Agreement, and the grant of the Lease hereunder, which termination right may be exercised by written notice by ▇▇▇▇▇▇ to Owner, and which termination shall be effective as of the date of such notice; ● the right to immediately enter upon and repossess the Designated Item Space Boat Slip and all appurtenances thereto, by forcible entry and detainer suit, or otherwise; ● the right to remove Owner’s Item Boat (and any personal property then inside Owner’s Item Boat from its mooring, and to store Owner’s Item Boat (and such personal property), with all risk of loss belonging solely to Owner, and with no liability whatsoever to Marina, and with all costs of storage being deemed to be including among the past due Monthly Rental under this Agreement; ● the right to make any required repairs to the Designated Item SpaceBoat Slip, or to expend any other sums required to cure any defaults by Owner under this Agreement, with all such sums expended being deemed to be included among the past due Rental under this Agreement; ● the right to terminate Owner’s rights of possession with regard to the Designated Item Space Boat Slip and all appurtenances thereto, without demand or notice of any kind an without terminating this Agreement, in which event ▇▇▇▇▇▇ ▇▇▇, but shall be under no obligation to, relet all or any part of the Designated Item Space Boat Slip for credit to Owner’s account, on such terms and conditions as ▇▇▇▇▇▇ in its sole discretion shall deem appropriate; and ● the right to exercise ▇▇▇▇▇▇’s rights under the Michigan Uniform Commercial Code with regard to the security interest granted to ▇▇▇▇▇▇ in the Secured Property. In the event of any Owner Event of Default, ▇▇▇▇▇▇ shall have the right to recover from Owner, whether by way of sale of the Secured Property, or by means of execution and levy on a judgment, or by means of voluntary payment by Owner, or by some combination thereof: (a) all Rental that is past due, including any late payment fees due in connection therewith, (b) all Rental to come due during the remainder of the Term (assuming that ▇▇▇▇▇▇ has not terminated this Agreement and the Lease hereunder), (c) ▇▇▇▇▇▇’s reasonable and necessary attorneys’ fees and costs of court, (d) pre-judgment at the lesser of 8% per annum or the maximum allowed by law, and

Default by Owner. If A. In the event Owner fails to perform any obligation which it is required to perform pursuant to this Contract, including without limitation, Owner's failure to make timely payments as required by this Contract, Contractor may, if such failure is not corrected by Owner within thirty (30) days after notice of such failure is given by Contractor, (five (5) days in the case of Owner's failure to make timely payments), stop work on this Contract and consider this Contract to be terminated for cause due to the default of Owner. If this Contract is terminated pursuant to this Article, Owner shall: 1. immediately pay to Contractor to the extent it had not already done so, all payments for all quarterly periods completed prior to the quarterly period during which such default by Owner occurs; and, 2. immediately pay to Contractor the full payment for the quarterly period during which such default by Owner occurs; and, 3. pay to Contractor within thirty (30) days after receipt of Contractor's invoice, the full amount of the anticipated and reasonable profits Contractor could have earned had it been permitted to complete this Contract; and, 4. immediately pay to Contractor the appropriate amount for spare spacecrafts as specified in Sections 1, 2 and 3 of Paragraph B of ARTICLE 4, CONTRACTOR'S COMPENSATION; and, CONFORMED 1/14/97 IRIDIUM Operations and Maintenance Contract 5. return to Contractor all documentation and technical data previously delivered to Owner by Contractor; and, 6. assign to Contractor of any Rental within five days of delivery by ▇▇▇▇▇▇ of notice of any Rental that is past due, or fails to cure any other default under this Agreement within ten days of delivery by ▇▇▇▇▇▇ of such default, then an “Owner Event of Default” shall exist and ▇▇▇▇▇▇ shall have the following remedies, which shall be cumulative rather than exclusive: ● the right to terminate this Agreement, and the grant of the Lease hereunder, which termination right may be exercised by written notice by ▇▇▇▇▇▇ to Owner, and which termination shall be effective as of the date of such notice; ● the right to immediately enter upon and repossess the Designated Item Space and all appurtenances thereto, by forcible entry and detainer suit, or otherwise; ● the right licences of Owner to remove Owner’s Item (and any personal property then inside Owner’s Item from its mooring, and to store Owner’s Item (and such personal property), with use IRIDIUM frequency allocations in all risk of loss belonging solely to Owner, and with no liability whatsoever to Marina, and with all costs of storage being deemed to be including among the past due Monthly Rental under this Agreement; ● the right to make any required repairs countries worldwide to the Designated Item Space, or to expend any other sums required to cure any defaults by Owner under this Agreement, with all such sums expended being deemed to be included among the past due Rental under this Agreement; ● the right to terminate Owner’s rights of possession with regard to the Designated Item Space and all appurtenances thereto, without demand or notice of any kind an without terminating this Agreement, in which event ▇▇▇▇▇▇ ▇▇▇, but shall be under no obligation to, relet all or any part of the Designated Item Space for credit to Owner’s account, on such terms and conditions as ▇▇▇▇▇▇ in its sole discretion shall deem appropriate; and ● the right to exercise ▇▇▇▇▇▇’s rights under the Michigan Uniform Commercial Code with regard to the security interest granted to ▇▇▇▇▇▇ in the Secured Property. In the event of any Owner Event of Default, ▇▇▇▇▇▇ shall have the right to recover from Owner, whether by way of sale of the Secured Property, or by means of execution and levy on a judgment, or by means of voluntary payment by Owner, or by some combination thereof: (a) all Rental that is past due, including any late payment fees due in connection therewith, (b) all Rental to come due during the remainder of the Term (assuming that ▇▇▇▇▇▇ has not terminated this Agreement and the Lease hereunder), (c) ▇▇▇▇▇▇’s reasonable and necessary attorneys’ fees and costs of court, (d) pre-judgment at the lesser of 8% per annum or the maximum allowed fullest extent permitted by law. B. THE REMEDIES SET FORTH IN THIS ARTICLE SHALL BE THE SOLE RECOURSE TO WHICH CONTRACTOR IS ENTITLED IN THE EVENT OF OWNER'S DEFAULT, andAND, EXCEPT AS PROVIDED ABOVE, OWNER SHALL HAVE NO LIABILITY FOR SPECIAL, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES OR FOR LOST PROFITS OR LOST REVENUES.

Default by Owner. If Owner fails to make payment of any Rental within five days of delivery by ▇▇▇▇▇▇ of notice of any Rental that is past due, or fails to cure any other default under this Agreement within ten days of delivery by ▇▇▇▇▇▇ of such default, then an “Owner Event of Default” shall exist and ▇▇▇▇▇▇ shall have the following remedies, which shall be cumulative rather than exclusive: ● the right to terminate this Agreement, and the grant of the Lease hereunder, which termination right may be exercised by written notice by ▇▇▇▇▇▇ to Owner, and which termination shall be effective as of the date of such notice; ● the right to immediately enter upon and repossess the Designated Item Boat Space and all appurtenances thereto, by forcible entry and detainer suit, or otherwise; ● the right to remove Owner’s Item Boat (and any personal property then inside Owner’s Item Boat from its mooring, and to store Owner’s Item Boat (and such personal property), with all risk of loss belonging solely to Owner, and with no liability whatsoever to Marina, and with all costs of storage being deemed to be including among the past due Monthly Rental under this Agreement; ● the right to make any required repairs to the Designated Item Boat Space, or to expend any other sums required to cure any defaults by Owner under this Agreement, with all such sums expended being deemed to be included among the past due Rental under this Agreement; ● the right to terminate Owner’s rights of possession with regard to the Designated Item Boat Space and all appurtenances thereto, without demand or notice of any kind an without terminating this Agreement, in which event ▇▇▇▇▇▇ ▇▇▇, but shall be under no obligation to, relet all or any part of the Designated Item Boat Space for credit to Owner’s account, on such terms and conditions as ▇▇▇▇▇▇ Marina in its sole discretion shall deem appropriate; and ● the right to exercise ▇▇▇▇▇▇’s rights under the Michigan Uniform Commercial Code with regard to the security interest granted to ▇▇▇▇▇▇ in the Secured Property. In the event of any Owner Event of Default, ▇▇▇▇▇▇ shall have the right to recover from Owner, whether by way of sale of the Secured Property, or by means of execution and levy on a judgment, or by means of voluntary payment by Owner, or by some combination thereof: (a) all Rental that is past due, including any late payment fees due in connection therewith, (b) all Rental to come due during the remainder of the Term (assuming that ▇▇▇▇▇▇ has not terminated this Agreement and the Lease hereunder), (c) ▇▇▇▇▇▇’s reasonable and necessary attorneys’ fees and costs of court, (d) pre-judgment at the lesser of 8% per annum or the maximum allowed by law, and

Default by Owner. If The Owners shall be deemed to be in default hereunder (an “Owner fails Default”): (i) if, as determined by the Independent Neutral in the manner set forth in Article XI, a Funding Default continues for a period of ten (10) days after written notice thereof by Developer to make payment Comcast, (ii) the Owners (at Comcast’s direction) shall fail to keep, observe or perform any other covenant, agreement, term or provision of this Agreement to be kept, observed or performed by the Owners and such default continues for thirty (30) days after notice thereof by Developer to Comcast, which notice shall to the extent information is reasonably available to Developer specify the nature of the default and possible cure thereof, provided that, unless such failure is not susceptible to cure, if within such thirty (30) day period for a non-monetary default the Owners commence curing and continue diligently to cure such failure, then the Owners shall have such additional time as may be reasonably required to cure such failure; (iii) Comcast or the Major Tenant shall materially interfere with the performance of the Work by Developer, General Contractor, Principal Architect, Principal Lighting Designer, Principal Landscape Architect or any subcontractor, material supplier or other professional involved in the performance of the Work, which interference delays Substantial Completion of any Rental within five days element of delivery by ▇▇▇▇▇▇ of notice the Project or materially increases the cost of any Rental that element of the Project and such default continues for thirty (30) days after notice thereof by Developer to Comcast and Major Tenant, which notice shall to the extent information is past duereasonably available to Developer specify the nature of the default and possible cure thereof, provided that, unless such default is not susceptible to cure, if within such thirty (30) day period for a non-monetary default Comcast or fails Major Tenant, as the case may be, commences curing and continues diligently to cure any other default under this Agreement within ten days of delivery by ▇▇▇▇▇▇ of such default, then an “Owner Event of Default” shall exist and ▇▇▇▇▇▇ Comcast or Major Tenant, as the case may be, shall have the following remedies, which shall be cumulative rather than exclusive: ● the right to terminate this Agreement, and the grant of the Lease hereunder, which termination right such additional time as may be exercised by written notice by ▇▇▇▇▇▇ to Owner, and which termination shall be effective as of the date of such notice; ● the right to immediately enter upon and repossess the Designated Item Space and all appurtenances thereto, by forcible entry and detainer suit, or otherwise; ● the right to remove Owner’s Item (and any personal property then inside Owner’s Item from its mooring, and to store Owner’s Item (and such personal property), with all risk of loss belonging solely to Owner, and with no liability whatsoever to Marina, and with all costs of storage being deemed to be including among the past due Monthly Rental under this Agreement; ● the right to make any required repairs to the Designated Item Space, or to expend any other sums reasonably required to cure any defaults such default; (iv) an Event of Default by Owner the Major Tenant occurs and is continuing under this Agreementthe Major Tenant Lease, with all such sums expended being deemed (v) a receiver is appointed to be included among take possession of the past due Rental under this Agreement; ● LEGAL\19062995\17 assets of Comcast or Major Tenant or Comcast or Major Tenant makes an assignment for the right to terminate Owner’s rights benefit of possession with regard to the Designated Item Space and all appurtenances theretocreditors, without demand or notice of any kind an without terminating this Agreement, in which event ▇▇▇▇▇▇ ▇▇▇, but shall be under no obligation to, relet all or any part of the Designated Item Space for credit to Owner’s accountaction is taken or suffered by Comcast or Major Tenant under any insolvency, on such terms and conditions as ▇▇▇▇▇▇ in its sole discretion shall deem appropriate; and ● the right to exercise ▇▇▇▇▇▇’s rights under the Michigan Uniform Commercial Code with regard to the security interest granted to ▇▇▇▇▇▇ in the Secured Property. In the event of any Owner Event of Defaultbankruptcy, ▇▇▇▇▇▇ shall have the right to recover from Ownerreorganization, whether by way of sale of the Secured Propertymoratorium, or other debtor-relief act or statute (unless such proceeding is commenced by means Developer or its Affiliates or any of execution them) and levy on a judgment, unless any involuntary proceeding is not dismissed within ninety (90) days following filing); or by means (vi) the dissolution of voluntary payment by Owner, Comcast or by some combination thereof: (a) all Rental that is past due, including any late payment fees due in connection therewith, (b) all Rental to come due during the remainder of the Term (assuming that ▇▇▇▇▇▇ has not terminated this Agreement and the Lease hereunder), (c) ▇▇▇▇▇▇’s reasonable and necessary attorneys’ fees and costs of court, (d) pre-judgment at the lesser of 8% per annum or the maximum allowed by law, andMajor Tenant.