Common use of Agency Remedies Clause in Contracts

Agency Remedies. Upon occurrence of any default by the Owner, the Agency may, at its option, take any one or more of the following actions or remedies: (a) terminate this Agreement and any Key Program assistance; (b) reduce the amount of Key Program assistance; (c) obtain against the Owner a mandatory injunction or other equitable relief requiring performance by the Owner of any of its obligations under this Agreement or the Targeting Program Manual; (d) require the Owner to take corrective actions to correct the problem(s) and prevent any reoccurrence; and (e) declare the Owner “not in good standing” with the Agency. The Agency will provide the Owner thirty (30) days written notice and opportunity to cure prior to implementing any of the above. The taking of any action or exercise of any remedy shall not constitute an election of remedies or preclude Agency from taking any other action or exercising another remedy available at law or in equity. No failure to exercise any remedy or take any action enumerated shall constitute a waiver of such right or preclude a subsequent exercise by the Agency of any such remedy. No actions or remedies taken by the Agency under this Section will waive, diminish or otherwise alter the Owner’s obligations under the Tenant Lease(s).

Agency Remedies. Upon occurrence of any default by the Owner, the Agency may, at its option, take any one or more of the following actions or remedies: (a) terminate this Agreement and any Key Program assistance; (b) reduce the amount of Key Program assistance; (c) obtain against the Owner a mandatory injunction or other equitable relief requiring performance by the Owner of any of its obligations under this Agreement or the Targeting Program Manual; (d) require the Owner to take corrective actions to correct the problem(s) and prevent any reoccurrence; and (e) declare the Owner “not in good standing” standing with the Agency. The Agency will provide the Owner thirty (30) days written notice and opportunity to cure prior to implementing any of the above. The taking of any action or exercise of any remedy shall not constitute an election of remedies or preclude Agency from taking any other action or exercising another remedy available at law or in equity. No failure to exercise any remedy or take any action enumerated shall constitute a waiver of such right or preclude a subsequent exercise by the Agency of any such remedy. No actions or remedies taken by the Agency under this Section will waive, diminish or otherwise alter the Owner’s obligations under the Tenant Lease(s).

Agency Remedies. Upon occurrence of any default by the Owner, the Agency may, at its option, take any one or more of the following actions or remedies: (a) terminate this Agreement and any Key Program assistance; (b) reduce the amount of Key Program assistance; (c) obtain against the Owner a mandatory injunction or other equitable relief requiring performance by the Owner of any of its obligations under this Agreement or the Targeting Program Manual; (d) require the Owner to take corrective actions to correct the problem(s) and prevent any reoccurrence; and (e) declare the Owner “not in good standing” with the Agency. The Agency will provide the Owner thirty (30) days written notice and opportunity to cure prior to implementing any of the above. The taking of any action or exercise of any remedy shall not constitute an election of remedies or preclude Agency from taking any other action or exercising another remedy available at law or in equity. No failure to exercise any remedy or take any action enumerated shall constitute a waiver of such right or preclude a subsequent exercise by the Agency of any such remedy. No actions or remedies taken by the Agency under this Section will waive, diminish or otherwise alter the Owner’s obligations under the Tenant Lease(s).