enemy or other casualty, that it will or does become
untenantable, the said building shall be repaired, reconstructed or restored as
the case may be, with due diligence by Lessor at its own cost and expense, and
the rent payable hereunder with respect to said building shall be paid up to the
time of such damage or destruction and shall thenceforth abate until such time
as the said building shall be made tenantable.
Lessor shall maintain insurance
sufficient to enable it to fulfill its obligations under this Article.
In the event that the Airport or any other premises herein leased are rendered
untenantable or unusable because of the condition thereof, there shall be a
reasonable and proportionate abatement of the rentals, fees and charges provided
for herein during the period that the same are so untenantable or unusable.
46
ARTICLE XIV
CANCELLATION BY LESSOR
Lessor may cancel this Agreement by giving Lessee sixty (60) days advance
written notice to be served as hereinafter provided, upon or after the happening
of any one of the following events:
(A)
THE FILING BY LESSEE OF A VOLUNTARY PETITION IN BANKRUPTCY;
(B)
THE INSTITUTION OF PROCEEDINGS IN BANKRUPTCY AGAINST LESSEE AND
THE ADJUDICATION OF LESSEE AS A BANKRUPT PURSUANT TO SUCH PROCEEDINGS IF SUCH
ADJUDICATION SHALL REMAIN UNVACATED OR UNSTAYED FOR A PERIOD OF AT LEAST SIXTY
(60) DAYS;
(C)
THE TAKING BY A COURT OF COMPETENT JURISDICTION OF LESSEE AND ITS
ASSETS PURSUANT TO PROCEEDINGS BROUGHT UNDER THE PROVISIONS OF ANY FEDERAL
REORGANIZATION ACT IF THE JUDGMENT OF SUCH COURT SHALL REMAIN UNVACATED OR
UNSTAYED FOR A PERIOD OF AT LEAST SIXTY (60) DAYS;
(D)
THE APPOINTMENT OF A RECEIVER OF LESSEE'S ASSETS IF SUCH
APPOINTMENT BY A COURT OF COMPETENT JURISDICTION SHALL REMAIN UNVACATED OR
UNSTAYED FOR A PERIOD OF AT LEAST SIXTY (60) DAYS;
(E)
THE DIVESTITURE OF LESSEE'S ESTATE HEREIN BY OTHER OPERATION OF
LAW;
(F)
THE ABANDONMENT BY LESSEE OF ITS CONDUCT OF AIR TRANSPORTATION AT
THE AIRPORT;
(G)
IF THE LESSEE SHALL BE PREVENTED FOR A PERIOD OF SIXTY (60) DAYS
(AFTER EXHAUSTING OR ABANDONING ALL APPEALS) BY ANY ACTION OF ANY GOVERNMENTAL
AUTHORITY, BOARD, AGENCY OR OFFICER HAVING JURISDICTION THEREOF FROM CONDUCTING
AIR TRANSPORTATION AT THE AIRPORT UNLESS IT IS SO PREVENTED FROM
47
CONDUCTING AIR TRANSPORTATION, EITHER (1) BY REASON OF THE UNITED STATES OR ANY
AGENCY THEREOF ACTING DIRECTLY OR INDIRECTLY, TAKING POSSESSION OF AND
OPERATING, IN WHOLE OR IN SUBSTANTIAL PART, THE PREMISES AND SPACE LEASED OR
OPERATED BY THE LESSEE, OR PREMISES REQUIRED FOR THE ACTUAL OPERATION OF
LESSEE'S AIRCRAFT TO AND FROM THE AIRPORT, OR (2) IF ALL OR A SUBSTANTIAL PART
OF THE PREMISES AND SPACE LEASED BY THE LESSEE SHALL BE ACQUIRED IN THE MANNER
DESCRIBED IN ARTICLE XXIV HEREOF;
(H)
THE DEFAULT BY LESSEE IN THE PERFORMANCE OF ANY COVENANT OR
AGREEMENT HEREIN REQUIRED TO BE PERFORMED BY LESSEE AND THE FAILURE OF LESSEE TO
REMEDY SUCH DEFAULT FOR A PERIOD OF SIXTY (60) DAYS AFTER RECEIPT