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<br />DO NOT RECORD <br /> <br />Licensee shall maintain the foregoing insurance coverages in force throughout the term of <br />this Agreement. The requirement for carrying the foregoing insurance coverages shall <br />not derogate from the provisions for indemnification of Licensor by Licensee under the <br />Agreement. Licensor or its representatives shall at all times have the right to demand the <br />original or a copy of all these policies of insurance, which Licensee shall provide within <br />fifteen (15) days of Licensor's request. <br /> <br />ARTICLE 5 - TERMINATION AND DEFAULT <br /> <br />Section 5.01 Termination <br /> <br />(a) This Agreement may be terminated with prior written notice as follows: <br />(1) by Licensor if Licensee fails to pay compensation in a timely manner <br />as provided herein; (2) by either party upon a default of any covenant or <br />term hereof or set forth in the Rider attached hereto by the other party, <br />which default has been noticed and is not cured within fifteen (15) days of <br />receipt of written notice of default; or (3) by Licensee if Licensee is <br />unable to occupy and utilize the License Area due to any action of the <br />Interstate Commerce Commission or the Department of Transportation. <br /> <br />(b) Licensor shall have at its sole discretion the option ofterminating this <br />Agreement if Licensee loses its license to provide bus transportation <br />services for any reason, including, but not limited to, non renewal, <br />cancellation, or expiration of its license. Licensee shall notify the City <br />immediately and in writing of its inability to obtain or maintain such <br />permits, licenses, approvals, waivers, and exemptions. Said inability shall <br />be cause for termination of this Agreement. <br /> <br />ARTICLE 6 - ASSIGNMENT, ABANDONMENT, DEFAULT, INSOLVENCY <br /> <br />Section6.01 Assignment <br /> <br />Licensee may not assign this Agreement. This Agreement is personal to Licensee, and <br />Licensee will not assign, transfer or sell this Agreement or any privilege hereunder in <br />whole or in part, and any attempt to do so will be void and confer no right upon any third <br />party. <br /> <br />Section 6.02 Abandonment by Licensee <br /> <br />Should Licensee breach this Agreement and abandon the License Area prior to the <br />expiration of the Term, Licensor may: <br /> <br />(a) Continue this License in effect by not terminating Licensee's right to the <br />License Area, in which event Licensor shall be entitled to enforce all of its <br />rights and remedies under this Agreement, including the right to recover <br /> <br />6 <br />