RES 87418 - Laserfiche WebLink

Each and all of the remedies given to the Corporation under the Facility Lease or by any law now or hereafter enacted are cumulative and the exercise of one right or remedy will not impair the right of the Corporation to any or all other remedies. The term "re-let" or "re-letting" as used in the Facility Lease include, but are not limited to, re-letting by means of the operation by the Corporation of the Demised Premises and Capital Projects-I and II. If any statute or rule of law validly limits the remedies given to the Corporation under the Facility Lease, the Corporation nevertheless will be entitled to whatever remedies are allowable under any statute or rule of law. In the event the Corporation prevails in any action brought to enforce any of the terms and provisions of the Facility Lease, the City agrees to pay a reasonable amount as and for attorney's fees incurred by the Corporation in attempting to enforce any of the remedies available to the Corporation under the Facility Lease, whether or not a lawsuit has been filed and whether or not any lawsuit culminates in a judgment. (b) If (1) the City's interest in the Facility Lease or any part of the Facility Lease are assigned or transferred without the written consent of the Corporation, either voluntarily or by operation of law or otherwise, or if (2) any proceeding under the United States Bankruptcy Code or any federal or state bankruptcy, insolvency, or similar law or any law providing for the appointment of a receiver, liquidator, trustee or similar official of the City or of all or substantially all of its assets, is instituted by or with the consent of the City, or is instituted without its consent and is not permanently stayed or dismissed within sixty days, or if the City offers to the City's creditors to effect a Cit ' composition or extension of time to pay the y s debts or asks, seeks or prays for a reorganization or to effect a plan of reorganization, or for a readjustment of the City's debts, or if the City makes a general or any assignment for the benefit of the City's creditors, or if (3) the City abandons or vacates any part of the Demised Premises and Capital Projects I and II (except pursuant to the Facility Lease), then the City will be deemed to be in default under the Facility Lease. (c) The Corporation will in no event be in default in the performance of any of its obligations under the Facility Lease or imposed by any statute or rule of law unless and until the Corporation has failed to perform such obligations within thirty (30) days or such additional time as is reasonably required to correct any such default after notice by the City to the Corporation properly specifying B-17 1685S