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<br />ARTICLE XI <br /> <br />TERMINATION; EVENTS OF DEFAULT; REMEDIES UPON DEFAULT <br /> <br />Section 11.01. Termination. Lessor or Lessee may terminate this Lease by giving notice to the <br />other no earlier than the 21 st anniversary of the date of this Lease. The effective date of termination shall <br />be the fIrst anniversary date of this Lease that is at least ten (10) years after the date of the notice. <br /> <br />Section 11.02. Breach or Default. Lessee shall have breached this Lease and shall be considered <br />in default if; <br /> <br />(i) Lessee files a petition in banlauptcy or insolvency or for reorganization under <br />any banlauptcy act, or makes an assignment for the benefIt of creditors; <br /> <br />(ii) involuntary proceedings are instituted against Lessee under any banlauptcy act; <br /> <br />(iii) Lessee fails to pay any Basic Rent or Additional Rent when due and does not <br />make the delinquent payment within ninety (90) days after receipt of notice thereof from Lessor; <br />or <br /> <br />(iv) Lessee fails to perform or comply with any of the covenants or conditions of this <br />Lease and such failure continues for a period of ninety (90) days (or such longer period as <br />reasonably may be necessary to cure such breach) after Lessee's receipt of notice thereof from <br />Lessor; provided that if (I) the alleged breach consists of failure to maintain the Facilities in <br />accordance with Article IV hereof, and (2) Lessor did not approve a Structural Improvement, and <br />(3) Lessor's denial of the proposed Structural Improvement is the direct cause of the alleged <br />failure to maintain, then such failure to maintain is not an event of default under this Article XI. <br /> <br />Section 11.03. Effect of Breach. In the event of default or breach by Lessee as set forth in <br />Section 11.02, the rights of Lessor shall be as follows; <br /> <br />(a) Right to Cancel. Lessor shall have the right to cancel and terminate this Lease, as well as <br />all of the right, title and interest of Lessee hereunder, by giving to Lessee not less than ninety (90) days <br />notice of the cancellation and termination. On expiration of the time fIxed in the notice, this Lease and <br />the right, title and interest of Lessee under this Lease shall terminate in the same manner and with the <br />same force and effect, except as to Lessee's liability, as if the date fIxed in the notice of cancellation and <br />termination were the end of the Initial Lease Term. <br /> <br />(b) Lessor's Election to Pav. Lessor may elect, but shall not be obligated, to make any <br />payment required of Lessee or comply with any agreement, term, or condition required to be performed <br />by Lessee, and Lessor shall have the right to enter the Building for the purpose of correcting or remedying <br />any such default and to remain until the default has been corrected or remedied. Any expenditure for the <br />correction by Lessor shall not be deemed to waive or release Lessee's default or Lessor's right to take any <br />action as may otherwise be permissible in the case of any default. <br /> <br />(c) Re-entrv. Lessor may re-enter the Building on ninety (90) days' notice to Lessee and <br />remove the property and personnel of Lessee, and store such property in a public warehouse or at a place <br />selected by Lessor, at the expense of Lessee. After re-entry, Lessor may terminate this Lease on giving <br />thirty (30) days' notice of termination to Lessee. Without the notice, re-entry will not terminate this <br />Lease. On termination, Lessor may recover from Lessee all damages proximately resulting from the <br /> <br />27 <br />