Orange County NC Website
DRAFT <br />14 <br />remedied, given to Orange Enterprises by the County, unless the County shall agree in writing to <br />an extension of such time prior to its expiration, or if the default be of a nature that it is not <br />reasonably susceptible to being cured within ninety (90) days, the time to cure maybe extended <br />by the County so long as Orange Enterprises is diligently attempting to cure such default. The <br />County shall not unreasonably withhold agreement to extend the time period to cure. <br />(ii) The dissolution or liquidation of Orange Enterprises or the filing by <br />Orange Enterprises of a voluntary petition in bankruptcy, or failure by Orange Enterprises <br />promptly to lift any execution, garnishment or attachment of such consequence as will impair its <br />ability to carry on its operations at the Premises, or the commission by Orange Enterprises of any <br />act of bankruptcy, or adjudication of Orange Enterprises as a bankrupt, or assignment by Orange <br />Enterprises for the benefit of its creditors, or the entry by Orange Enterprises into an agreement <br />of composition with its creditors, or the approval by a court of competent,jurisdiction of a <br />petition applicable to Orange Enterprises in any proceeding for its reorganization instituted under <br />the provisions of the Bankruptcy Act, as amended, or under any similar act which may hereafter <br />be enacted. The term "dissolution or liquidation of Orange Enterprises," as used in this <br />subsection, shall not be construed to include the cessation of the corporate existence of Orange <br />Enterprises resulting either from a merger or consolidation of Orange Enterprises into or with <br />another corporation, provided the merged or consolidated entity continues to perform those <br />covenants, conditions and teens of this Agreement required of Orange Enterprises.. <br />The foregoing provisions of this Paragraph are subject to the following limitations: If by <br />reason of force majeure Orange Enterprises is unable in whole or in part to carry out its <br />agreements on its part herein contained, Orange Enterprises shall not be deemed in default <br />during the continuance of such inability. The term "force majeure" as used herein shall mean, <br />