Agenda Packets - 2010/11/08 - Laserfiche WebLink

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374126 SJR MU210-5 6 (c) The Lessee shall: (i) apply for or consent to the appointment of, or the taking of possession by, a receiver, custodian, trustee, liquidator or the like of the Lessee or of all or a substantial part of its property; (ii) commence a voluntary case under the Federal Bankruptcy Code (as now or hereafter in effect); or (iii) file a petition seeking to take advantage of any other law relating to bankruptcy, insolvency, reorganization, winding-up or composition or adjustment of debts. Section 5.02. Remedies on Default. Whenever any Event of Default shall have happened and be continuing, the nondefaulting party may take, but only upon not less than five (5) days' written notice to the defaulting party, one or any combination of the following remedial steps: (a) If the Lessee is in default, the City may: (i) without terminating this Lease, re-enter and take possession of the Site and exclude the Lessee from using the Site until the Event of Default is cured; or (ii) terminate the Term of this Lease, exclude the Lessee from use of the Site, and use its best efforts to lease the Site to another for the account of the Lessee. (b) If the City is in default, Lessee may terminate this Lease upon thirty (30) days written notice. (c) Either party, in addition to the foregoing remedies, may take any other action at law or in equity which may appear necessary or desirable to enforce performance and observance of any obligation, agreement, or covenant contained herein. Section 5.03. Delay; Notice. No delay or omission to exercise any right or power accruing upon any default shall impair any such right or power or shall be construed to be a waiver thereof, but any such right and power may be exercised from time to time and as often as may be deemed expedient. In order to entitle any party to exercise any remedy reserved to it in this Lease it shall not be necessary to give any notice, other than such notice as may be required in this Lease. Section 5.04. No Remedy Exclusive. No remedy herein conferred upon or reserved to either party is intended to be exclusive and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Lease or now or hereafter existing at law or in equity. No delay or omission to exercise any right or power accruing upon any default shall impair any such right or power or shall be construed to be a waiver thereof, but any such right and power may be exercised from time to time and as often as may be deemed expedient. Section 5.05. No Additional Waiver Implied by One Waiver. In the event any agreement contained in this Lease is breached by either party and thereafter waived by the other party, such waiver shall be limited to the particular breach so waived and shall not be deemed to waive any other breach hereunder.