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action or proceeding brought in connection with any claims arising out of circumstances <br />described in (a), (b), or (c) above, the Board of Education shall further provide for the <br />defense of such claim for the County and/or the Corporation, as the case may be. <br /> <br />ARTICLE XII <br /> <br />EVENTS OF DEFAULT <br /> <br /> 12.1 Events of Default. The following shall be "Events of Default" under this <br />Lease, and term "Default" shall mean, wheneyer it is used in this Lease, any one or more <br />of the following events: <br /> <br /> (a) The Board of Education's failure to make any payments hereunder <br />when due. <br /> <br /> (b) The Board of Education's failure to observe and perfo,m any <br />covenant, condition or agreement on its part to be observed or performed for a period of <br />thirty (30) days after written notice specifying such failure and requesting that it be <br />remedied shall have been given to the Board of Education by the County, the Trustee or <br />the Insurer, unless the County, the Trustee and the Insurer shall agree in writing to an <br />extension of such time prior to its expiration; provided, however, if the failure stated in <br />the notice cannot be corrected within the applicable period, neither the County, the <br />Trustee nor the Insurer shall unreasonably withhold its consent to an extension of such <br />time if corrective action is instituted by the Board of education within the applicable <br />period and diligently pursued until such failure is .corrected; and further provided, that if <br />by reason of Force Majeure the Board of Education is unable in whole or in part to carry <br />out any of its agreements contained herein (other than its obligations contained in <br />Sections 6.2 or 8.1), the Board of Education shall not be deemed in default during the <br />continuance of such event or occurrence. <br /> <br /> (c) The dissolution or liquidation of the Board of Education or the <br />voluntary initiated by the Board of Education of any proceeding under any federal or <br />state law relating to bankruptcy, insolvency, arrangement, reorganization, readjustment of <br />debt or any other form of debtor relief, or the initiation against the Board of Education of <br />any such proceeding which shall remain undismissed for sixty (60) days, or the entry by <br />the Board of Education into an agreement of composition with creditors or the Board of <br />Education's failure generally to pay its debts as they become due. <br /> <br /> 12.2 Remedies on Default. Whenever any Event of Default shall have <br />happened and be continuing, the County may take one or any combination of the <br />following remedial steps: <br /> <br /> <br />