Orange County NC Website
Browse       Search
10 <br />73. FORCE MAJEURE. Lessor shall incur no liability to Customer for failure to <br />perform any of Lessor's obligations hereunder if such failure is due, in <br />whole or in part, to accident, fire, flood, natural disaster, strikes or labor <br />disturbances, riot or civil disorder, act of war, governmental action, <br />interruption of normal transportation, fuel, or power facilities, or any other <br />cause of like or different kind, beyond Lessor's reasonable control. <br />14. TERM~NAT~oN. Either party may terminate this Lease Agreement, in <br />whole or in part after the second anniversary date thereof, other than the <br />anniversary date on which the term expires, by giving to the other party at <br />least sixty (60) days prior written notice of its intent to do so. If this Lease <br />Agreement is so terminated by Lessor, Customer shall have the right, but <br />not the obligation, to purchase the Property affected by such termination in <br />accordance with Section 22 below. If this Lease Agreement is so <br />terminated by Customer, Lessor, at its option, may demand that Customer <br />purchase the Property affected by such termination in accordance with <br />Section 22 below. <br />Lessor shall have the right to terminate this Lease Agreement if the <br />Property shall be rendered inoperative for any reason, except where <br />Lessor shall have an obligation to furnish Customer with substitute <br />Property pursuant to Section 9 hereinabove, and Lessor shall determine <br />whether its condition does not justify repair. <br />Lessor shall have the right, at its option, to terminate the Lease Agreement <br />in the event that Customer shall become insolvent or the subject of <br />proceedings under law relating to bankruptcy or the relief of debtors, <br />including an assignment for the benefit of creditors. In such event, <br />Lessor, at its option, may demand that Customer purchase the Property <br />within ten (10) days of termination in accordance with Section 22 below. <br />In the event that Customer shall breach or default in the performance of <br />any of the terms and conditions of this Lease Agreement, for which time <br />shall be of the essence, Lessor immediately, without notice, demand, or <br />judicial process, all of which are hereby expressly waived by Customer, at <br />its option may take possession of the Property, together with all equipment <br />and accessories thereto. For this purpose, Lessor may enter upon any <br />premises where the Property may be located and remove the same. <br />Lessor may retain and refuse to redeliver the Property to Customer until <br />such breach or default is cured, without such action being deemed an act <br />of termination and without prejudice to any other rights or remedies <br />available to Lessor. Customer shall continue to be liable for all charges <br />