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Facility. However, Lessee shall take the Jansen Facility in its "AS IS" condition, as modified by <br />Section 1.4. <br />ARTICLE 8 <br />DEFAULT AND TERMINATION <br />8.1 Default and Termination Subject to the provisions of Section 12. 1, which makes <br />arbitration a condition precedent to forfeiture, if at any time: <br />a. Lessee fails to pay as and when due any of the Quarterly Minimum Payment, <br />the Shipment Royalty, Jansen Facility Rental or other sums of money required to be paid by <br />Lessee to Lessor under the terms of this Agreement and any such failure continues for a period <br />of fifteen (15) calendar days after written notice of such failure shall have been received by <br />Lessee, or <br />b. Lessee fails to perform any of the non - payment related terms, conditions and <br />covenants of this Agreement and such failure continues for a period of thirty (30) calendar days <br />after written notice of such failure shall have been received by Lessee. <br />Then, in the case of either subparagraph (a) or (b), Lessor may, at its option, but with no <br />obligation to do so, terminate this Agreement, whereupon all of Lessee's rights hereunder and <br />the leasehold estate hereby created shall be forfeited and terminated, and Lessor may avail itself <br />• of all remedies set forth in this Agreement, and Lessor shall have the right at any time thereafter, <br />without further notice, demand or proceeding, to re -enter upon and take possession of the Jansen <br />Facility, and every part thereof, and be reinstated in its possession to hold as if this Agreement <br />had not been made and exclude Lessee therefrom except for the purpose of performing any work <br />required to be performed by Lessee by any governmental authority. In such event, no further <br />obligations shall accrue against Lessee hereunder, but Lessee shall remain liable to Lessor for all <br />obligations which accrued prior to the effective date of such forfeiture and termination. <br />Notwithstanding anything to the contrary in this Section 8. 1, Lessee's Coal Handling Equipment <br />and any structure or fixture constructed or installed by Lessee at the Jansen Facility shall remain <br />the property of Lessee. <br />8.2 Waiver of Performance or Default A failure of either party to insist in any one or <br />more instances upon strict performance of any covenants, terms or conditions imposed upon or <br />assumed by either party under this Agreement, or the failure of either party to exercise any <br />particular option or right granted by this Agreement, shall not be construed as a waiver or <br />relinquishment for the future performance of any such covenant, term or condition, or as to the <br />exercise of any such option or right. Moreover, a waiver by either party of a default or breach <br />hereunder shall not be deemed to be a waiver of any subsequent default or breach, and any delay <br />in asserting a right shall not be deemed a waiver of such right. The preceding sentence shall not <br />be construed as a waiver of any applicable statute of limitations. <br />11 <br />• <br />