Abandonment of the Project. The District has the absolute discretion to suspend or abandon all or any portion of the Work on the Project and may do so upon fourteen (14) Days’ written notice to Contractor. Upon notice of suspension or abandonment, Contractor shall immediately discontinue any further action on the Project or the abandoned portion of the Project, as applicable. If the entire Work to be performed on the Project is abandoned, the parties shall each be relieved of the remaining executory obligation of the Agreement, as it relates to the Project, but shall not be relieved of any obligations arising prior to said abandonment.
Abandonment of the Project. If Grant Recipient abandons or otherwise ceases to continue to make reasonable progress towards completion of the Project.
Abandonment of the Project. If at any time prior to or following First Commercial Use, Buyer provides written notice to Seller of its election to abandon the Project ("Abandonment"), Seller shall have the option to re-acquire the Assets (the "Re-Acquired Assets") from Buyer upon entering into a bona fide agreement with an unaffiliated third party ("Third Party") under which a Third Party agrees to commercialize a Catarex Product. In the event that Seller wishes to exercise said option, Seller shall deliver to Buyer a written notice of election and the parties shall agree on a time and place for a closing of the transaction. In connection with such closing, Seller shall agree in writing to pay Buyer a purchase price for the Re-Acquired Assets equal to the aggregate payments received by Seller from Buyer under Sections 3.1, 3.3.1 and 7.4 hereof (minus, in the case of Section 7.4, Royalties accrued and paid upon Net Sales under Section 3.3.2); provided that Seller shall be entitled to pay Buyer at the rate of fifty percent (50%) of any and all amounts received from such Third Party as and when such amounts are received by Seller. Notwithstanding the foregoing, an Abandonment shall be deemed to have occurred if (i) Buyer fails to satisfy any of the following milestones or (ii) ceases selling Catarex Products after First Commercial Use:
(a) Completion by March 31, 2002 of a clinical study designed by Buyer to assess the functionality of the Catarex Handpiece in human cataract surgery.
(b) Production by January 31, 2003 of a prototype Catarex Handpiece (the "Redesigned Catarex Handpiece") that satisfies Buyer's manufacturing cost specifications.
(c) Completion of a Clinical Demonstration using the Redesigned Catarex Handpiece by June 30, 2003.
(d) Submission of 510(k) for the Redesigned Catarex Handpiece by September 30, 2003. In the event that Seller fails to satisfy the condition contained in Section 8.3.5 hereof by February 28, 2001 (the "Delivery Date"), the foregoing milestone completion dates shall be extended by one (1) day for each day that passes after the Delivery Date until the condition contained in Section 8.3.5 hereof is satisfied.
Abandonment of the Project. The abandonment or failure to operate all or a portion of the Project for two or more consecutive days in any Contract Year unless caused by Uncontrollable Circumstances;
Abandonment of the Project. In the event the Board of Managers determines to abandon the Project, the Members shall maintain the existence of the Company until such time as the Company shall have received any revenues payable to the Company or any Operating Company.
Abandonment of the Project. 12.1 Without prejudice to Clause 12.3 below, the Councils shall be entitled to abandon the Project (provided that it is a unanimous decision) at any time prior to the execution of the Operational Inter-Authority Agreement.
12.2 The Project will be deemed to be abandoned on 30 June 2017 if the OJEU Publication Date does not occur before that date, unless the Project Board unanimously agrees otherwise;
Abandonment of the Project. All or a material part of the development or operation of the Project is abandoned or suspended for a continuous period exceeding 30 days.
Abandonment of the Project. In the case of an abandonment of the project by one or other signatory, each part will support the expenses incurred without being able to be reimbursed by the other part.
Abandonment of the Project. If Developer abandons or otherwise ceases to continue to make reasonable progress toward completion of the Project, as determined by County. If, after notice of default or noncompliance, Developer has not cured such default within a reasonable time or is not diligently pursuing a cure satisfactory to County, then County shall promptly notify Developer, in writing, of its determination and reasons for the termination together with the date on which the termination shall take effect, along with other notifications required under 2 CFR Part 200, Subpart D. Upon termination, County retains the right to recover any improper expenditures from Developer and Developer shall return to County any improper expenditures no later than 30 days after the date of termination. County may, at its sole discretion, allow the Developer to retain or be reimbursed for costs reasonably incurred prior to termination, that were not made in anticipation of termination and cannot be cancelled, provided that said costs meet the provisions of this Agreement, 2 CFR Part 200, Subpart E, Costs Principles, and any other applicable state or Federal statutes, regulations or requirements. ADDITIONAL REMEDIES If the Developer defaults, County shall have the power and authority, consistent with their statutory authorities, to: - Prevent any impairment of the Grant activities by any acts which may be unlawful or in violation of this Agreement or any other item or document required herein; - Compel specific performance of any of Developer’s obligations under this Agreement; - Obtain return of all Grant funds; and - Seek damages from any appropriate person or entity. County shall be under no obligation to complete the activities funded by this Agreement. NONWAIVER No delay, forbearance, waiver, or omission by County to exercise any right, power or remedy upon any event of default shall exhaust or impair any such right, power or remedy or shall be construed to waive any such event of default or to constitute acquiescence therein.
Abandonment of the Project. If Subrecipient abandons or otherwise ceases to continue to make reasonable progress towards completion of the program, activities or Project as outlined in Scope of Work (Exhibit A) and Award Letter. If, after notice of default or non-compliance, Subrecipient has not cured such default within a reasonable time or is not diligently pursuing a cure satisfactory to Grantee, then Grantee shall promptly notify Subrecipient, in writing, of its determination and the reasons for the termination together with the date on which the termination shall take effect, along with other notifications required by law. Upon termination, Grantee retains the right to recover any improper expenditures from Subrecipient and Subrecipient shall return to Grantee any improper expenditures no later than 30 days after the date of termination. Grantee may, at its sole discretion, allow Subrecipient to be reimbursed for costs reasonably incurred prior to termination, that were not made in anticipation of termination and cannot be canceled, provided that said costs meet the provisions of this Agreement, NCORR Billing Guide (Exhibit B), 24 CFR part 200, subpart E, Cost Principles, and any other applicable state or federal statutes, regulations or requirements.
