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7.C. - Page 114 of 178 25. Default by Tenant; Remedies of Landlord. (a) Each of the following occurrences shall be deemed an event of default hereunder by Tenant (each such occurrence, after the expiration of any applicable notice and cure period, being hereinafter referred to as a "Tenant Default"): (1) Default in the payment of Rent or any other sum owing to Landlord or third parties continuing for a period of Ten (10) days from when such amount was due. (2) Default in the performance of any other covenant or condition of Tenant pursuant to this Lease or material inaccuracy in any representation or warranty made by Tenant hereunder for a period of Thirty (30) days after notice from Landlord of the default or inaccuracy. If the default cannot reasonably be cured within Thirty (30) days, Tenant shall not be in default of this Lease is Tenant commences to cure the default within such Thirty (30) day period and diligently and in good faith continues to cure the default until completion, but in no event longer than One Hundred Twenty (120) days from the date of notice of default. (3) Default beyond any notice and cure period under the Common Area Maintenance Agreement or the Operating Agreement of the New YMCA. (4) Failure to continuously occupy or operate the YMCA Site in accordance with Section 7 (Hours of Business/Covenant of Continuous Operation), above. A vacation of occupancy or a cessation of operations for Thirty (30) or more consecutive days (or Sixty (60) non consecutive days in a Twelve (12) month period) shall be a Tenant Default. (5) The making by Tenant of any general assignment for the benefit of creditors; the filing by or against Tenant of a petition to have Tenant adjudged bankrupt or insolvent or of a petition for reorganization or arrangement under any federal or state bankruptcy or other insolvency law (unless, in the case of a petition filed against Tenant, the same is dismissed within Sixty (60) days after filing); the appointment of a trustee or receiver to take possession of all or substantially all of Tenant's assets located at the YMCA Site or of Tenant's interest in this Lease and possession is not restored to Tenant within Sixty (60) days thereafter, or the attachment, execution or other judicial seizure of substantially all of Tenant's assets located at the YMCA Site or of Tenant's interest in this Lease and possession is not restored to Tenant within Sixty (60) days thereafter. (b) Upon the occurrence of any Tenant Default and the expiration without cure of any applicable notice and cure periods, Landlord shall have, in addition to Landlord's other rights and remedies at law or in equity, all of the following rights: (1) Landlord shall have the right at any time thereafter to give notice of termination to Tenant, and on the date specified in such notice (which shall not be less than Thirty (30) days after the giving of such notice) this Lease shall, subject to Section 25(c), terminate. If any such termination of this Lease occurs, Landlord may then or any time YMCA Ground Lease 82483.00016\32493585.5 -18- 537