Common use of Authority’s Remedies Clause in Contracts

Authority’s Remedies. In the event of any of the foregoing events of default enumerated in this Article, and following 30 days' notice by Authority and Company's failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this Agreement. Company will remain liable for all payments or other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 percent (FRBNY prime + 4%) or 12 percent per annum, whichever is greater, to the maximum extent permitted by law; or C. Declare this Agreement to be terminated, ended, null and void. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to exercise any right, power, privilege, or option arising from any default, nor subsequent acceptance of fees or charges then or thereafter accrued, will impair any such right, power, privilege, or option, or be construed to be a waiver of any such default. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, or remedy by Authority will not impair its rights to any other right, power, option, privilege, or remedy available under this Agreement or as provided by law.

Appears in 23 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

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Authority’s Remedies. In the event of any of the foregoing events of default enumerated in this Article, and following 30 days' notice by Authority and Company's ’s failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this AgreementAgreement and, in accordance with law, take possession of the Premises. Authority will not be deemed to have thereby accepted a surrender of the Premises, and Company will remain liable for all payments due, or other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 four percent (FRBNY prime + 4%) or 12 percent 12% per annum, whichever is greater, to the maximum extent permitted by law; or. C. Declare this Agreement to be terminated, ended, null and void, and reclaim possession of the Premises, whereupon all rights and interest of Company in the Premises and common use areas will end. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance non-compliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to re-enter the Premises or to exercise any right, power, privilege, or option arising from any default, default nor subsequent acceptance of fees or charges then or thereafter accrued, accrued will impair any such right, power, privilege, or option, or be construed to be a waiver of any such defaultdefault or relinquishment, or acquiescence of the Premises. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, privilege or remedy by Authority will not impair its rights to any other right, power, option, privilege, privilege or remedy available under this Agreement or as provided by law.

Appears in 11 contracts

Samples: Space Rental Agreement, Space Rental Agreement, Space Rental Agreement

Authority’s Remedies. In the event of any of the foregoing events Events of default Default enumerated in this Article, and following 30 thirty (30) days' notice by the Authority and Company's failure to cure, the Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this Agreement. Company will remain liable for all payments or other sums due under this Agreement and for all damages suffered by the Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by the Authority directly or indirectly in curing Company’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank rate of New York prime rate in effect on the date the fees or charges became due plus 4 one and one-half percent (FRBNY prime + 41.5%) or 12 percent per annum, whichever is greatermonth, to the maximum extent permitted by lawApplicable Laws; or C. Declare this Agreement to be terminated, ended, null and void. No waiver by the Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of the Authority to exercise any right, power, privilege, or option option, arising from any default, nor subsequent acceptance of fees or charges then or thereafter accrued, will impair any such right, power, privilege, or option, or be construed to be a waiver of any such default. No notice by the Authority will be required to restore or revive time is of the essence hereof after waiver by the Authority or default in one or more instances. No option, right, power, remedy, or privilege of the Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to the Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, or remedy by the Authority will not impair its rights to any other right, power, option, privilege, or remedy available under this Agreement or as provided by lawApplicable Laws.

Appears in 7 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

Authority’s Remedies. In the event of any of the foregoing events Events of default Default enumerated in this Article, and following 30 thirty (30) days' notice by Authority and Company's ’s failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this AgreementAgreement and, in accordance with Applicable Laws, take possession of the Company Premises. The Authority will not be deemed to have thereby accepted a surrender of the Company Premises, and Company will remain liable for all payments or and other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; oror SAMPLE B. Treat the this Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default default, plus an Administrative Charge thereon, will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank rate of New York prime rate in effect on the date the fees or charges became due plus 4 one and one-half percent (FRBNY prime + 41.5%) or 12 percent per annum, whichever is greatermonth, to the maximum extent permitted by lawApplicable Laws; or C. Declare this Agreement to be terminated, ended, null and void, and reclaim possession of the Company Premises, whereupon all rights and interest of Company in its Company Premises and common use areas will end. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance non-compliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to re-enter the Company Premises or to exercise any right, power, privilege, or option arising from any default, default nor subsequent acceptance of fees or charges then or thereafter accrued, accrued will impair any such right, power, privilege, or option, or be construed to be a waiver of any such defaultdefault or relinquishment, or acquiescence of the Company Premises. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, privilege or remedy by Authority will not impair its rights to any other right, power, option, privilege, privilege or remedy available under this Agreement or as provided by lawApplicable Laws.

Appears in 6 contracts

Samples: Space Rental Agreement, Space Rental Agreement, Space Rental Agreement

Authority’s Remedies. In the event of any of the foregoing events Events of default Default enumerated in this Article, and following 30 thirty (30) days' notice by Authority and Company's ’s failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this AgreementAgreement and, in accordance with Applicable Laws, take possession of the Company Premises. The Authority will not be deemed to have thereby accepted a surrender of the Company Premises, and Company will remain liable for all payments or and other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the this Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default default, plus an Administrative Charge thereon, will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank rate of New York prime rate in effect on the date the fees or charges became due plus 4 one and one-half percent (FRBNY prime + 41.5%) or 12 percent per annum, whichever is greatermonth, to the maximum extent permitted by lawApplicable Laws; or C. Declare this Agreement to be terminated, ended, null and void, and reclaim possession of the Company Premises, whereupon all rights and interest of Company in its Company Premises and common use areas will end. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance non-compliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to re-enter the Company Premises or to exercise any right, power, privilege, or option arising from any default, default nor subsequent acceptance of fees or charges then or thereafter accrued, accrued will impair any such right, power, privilege, or option, or be construed to be a waiver of any such defaultdefault or relinquishment, or acquiescence of the Company Premises. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, privilege or remedy by Authority will not impair its rights to any other right, power, option, privilege, privilege or remedy available under this Agreement or as provided by lawApplicable Laws.

Appears in 6 contracts

Samples: Space Rental Agreement, Space Rental Agreement, Space Rental Agreement

Authority’s Remedies. In the event of any of the foregoing events of default enumerated in this Article, and following 30 days' notice by Authority and Company's ’s failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this AgreementAgreement and, in accordance with law, take possession of the Premises. Authority will not be deemed to have thereby accepted a surrender of the Premises, and Company will remain liable for all payments due, or other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 four percent (FRBNY prime + 4%) or 12 percent 12% per annum, whichever is greater, to the maximum extent permitted by law; or. C. Declare this Agreement to be terminated, ended, null and void, and reclaim possession of the Premises, whereupon all rights and interest of Company in the Premises and Common Use Areas will end. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance non-compliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to re-enter the Premises or to exercise any right, power, privilege, or option arising from any default, default nor subsequent acceptance of fees or charges then or thereafter accrued, accrued will impair any such right, power, privilege, or option, or be construed to be a waiver of any such defaultdefault or relinquishment, or acquiescence of the Premises. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, privilege or remedy by Authority will not impair its rights to any other right, power, option, privilege, privilege or remedy available under this Agreement or as provided by law.

Appears in 5 contracts

Samples: Cargo Building Space Rental Agreement, Cargo Building Space Rental Agreement, Ground Service Equipment Facilities Space Rental Agreement

Authority’s Remedies. In the event of any of the foregoing events Events of default Default enumerated in this Article, and following 30 thirty (30) days' notice by Authority and Company's ’s failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this AgreementAgreement and, in accordance with Applicable Laws, take possession of the Company Premises. The Authority will not be deemed to have thereby accepted a surrender of the Company Premises, and Company will remain liable for all payments or and other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the this Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default default, plus an Administrative Charge thereon, will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank rate of New York prime rate in effect on the date the fees or charges became due plus 4 one and one-half percent (FRBNY prime + 41.5%) or 12 percent per annum, whichever is greatermonth, to the maximum extent permitted by lawApplicable Laws; or C. Declare this Agreement to be terminated, ended, null and void, and reclaim possession of the Company Premises, whereupon all rights and interest of Company in its Company Premises and common use areas will end. SAMPLE No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance non-compliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to re-enter the Company Premises or to exercise any right, power, privilege, or option arising from any default, default nor subsequent acceptance of fees or charges then or thereafter accrued, accrued will impair any such right, power, privilege, or option, or be construed to be a waiver of any such defaultdefault or relinquishment, or acquiescence of the Company Premises. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, privilege or remedy by Authority will not impair its rights to any other right, power, option, privilege, privilege or remedy available under this Agreement or as provided by lawApplicable Laws.

Appears in 5 contracts

Samples: Space Rental Agreement, Space Rental Agreement, Space Rental Agreement

Authority’s Remedies. In the event of any of the foregoing events of default enumerated in this Article, and following 30 days' notice by Authority and Company's ’s failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this AgreementAgreement and, in accordance with law, take possession of the Premises. Authority will not be deemed to have thereby accepted a surrender of the Premises, and Company will remain liable for all payments due, or other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 four percent (FRBNY prime + 4%) or 12 percent 12% per annum, whichever is greater, to the maximum extent permitted by law; or. C. Declare this Agreement to be terminated, ended, null and void, and reclaim possession of the Premises, whereupon all rights and interest of Company in the Premises and common use areas will end. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance non-compliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to re-enter the Premises or to exercise any right, power, privilege, or option arising from any default, default nor subsequent acceptance of fees or charges then or thereafter accrued, accrued will impair any such right, power, privilege, or option, or be construed to be a waiver of any such defaultdefault or relinquishment, or acquiescence of the Premises. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, or remedy by Authority will not impair its rights to any other right, power, option, privilege, or remedy available under this Agreement or as provided by law.

Appears in 5 contracts

Samples: Space Rental Agreement, Space Rental Agreement, Space Rental Agreement

Authority’s Remedies. In the event of any of the foregoing events of default enumerated in this Article, and following 30 days' notice by Authority and Company's ’s failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this AgreementAgreement and, in accordance with law, take possession of the Premises. Authority will not be deemed to have thereby accepted a surrender of the Premises, and Company will remain liable for all payments due or other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the this Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 four percent (FRBNY prime + 4+4%) or 12 percent 12% per annum, whichever is greater, to the maximum extent permitted by law; or C. Declare this Agreement to be terminated, ended, null and void, and reclaim possession of the Premises, whereupon all rights and interest of Company in the Premises will end. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to re- enter the Premises or to exercise any right, power, privilege, or option arising from any default, default nor subsequent acceptance of fees or charges then or thereafter accrued, accrued will impair any such right, power, privilege, or option, or be construed to be a waiver of any such defaultdefault or relinquishment, or acquiescence of the Premises. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, or remedy by Authority will not impair its rights to any other right, power, option, privilege, or remedy available under this Agreement or as provided by law.

Appears in 3 contracts

Samples: Ground Lease Agreement, Ground Lease Agreement, Ground Lease Agreement

Authority’s Remedies. SAMPLE In the event of any of the foregoing events Events of default Default enumerated in this Article, and following 30 thirty (30) days' notice by the Authority and Company's failure to cure, the Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this Agreement. Company will remain liable for all payments or other sums due under this Agreement and for all damages suffered by the Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by the Authority directly or indirectly in curing Company’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank rate of New York prime rate in effect on the date the fees or charges became due plus 4 one and one-half percent (FRBNY prime + 41.5%) or 12 percent per annum, whichever is greatermonth, to the maximum extent permitted by lawApplicable Laws; or C. Declare this Agreement to be terminated, ended, null and void. No waiver by the Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of the Authority to exercise any right, power, privilege, or option option, arising from any default, nor subsequent acceptance of fees or charges then or thereafter accrued, will impair any such right, power, privilege, or option, or be construed to be a waiver of any such default. No notice by the Authority will be required to restore or revive time is of the essence hereof after waiver by the Authority or default in one or more instances. No option, right, power, remedy, or privilege of the Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to the Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, or remedy by the Authority will not impair its rights to any other right, power, option, privilege, or remedy available under this Agreement or as provided by lawApplicable Laws.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Authority’s Remedies. In the event of any of the foregoing events of default enumerated in this Article, and following 30 days' notice by Authority and Company's ’s failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this Agreement. , and Company will remain liable for all payments due, or other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 percent (FRBNY prime + 4%) or 12 percent per annum, whichever is greater, to the maximum extent permitted by law; or C. Declare this Agreement to be terminated, ended, null and void. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to exercise any right, power, privilege, or option arising from any default, nor subsequent acceptance of fees or charges then or thereafter accrued, accrued will impair any such right, power, privilege, or option, or be construed to be a waiver of any such default. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, or remedy by Authority will not impair its rights to any other right, power, option, privilege, or remedy available under this Agreement or as provided by law.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Authority’s Remedies. In The rights and benefits conferred upon the Authority by this Deed are in addition to any other rights and remedies it may have against the Building Contractor including without prejudice to the generality of the foregoing any remedies in negligence. INSPECTION OF PROJECT DATA The Building Contractor's liabilities under this Deed will not be in any way reduced or extinguished by reason of any inspection or approval of the Project Data or attendance at site meetings or other enquiry or inspection which the Authority may make or procure to be made for its benefit or on its behalf.196 STEP-IN RIGHTS IN FAVOUR OF THE AUTHORITY The Building Contractor will not exercise or seek to exercise any right which may be or become available to it to terminate or treat as terminated or repudiated the Building Contract or its engagement under it or discontinue or suspend the performance of any duties or obligations thereunder without first giving to the Authority not less than twenty (20) Business Days’ prior written (seven (7) days' prior written notice of suspension in the event of non payment under the Building Contract) notice specifying the Building Contractor's ground for terminating or treating as terminated or repudiated the Building Contract or its engagement under it or discontinuing or suspending its performance thereof and stating the amount (if any) of monies outstanding under the Building Contract. Within such period of notice: the Authority may give written notice to the Building Contractor that the Authority will thenceforth become the client under the Building Contract to the exclusion of the Contractor and thereupon the Building Contractor will admit that the Authority is its client under the Building Contract and the Building Contract will be and remain in full force and effect notwithstanding any of the foregoing events said grounds; if the Authority has given such notice as aforesaid or under clause 10.3, the Authority shall accept liability for the Contractor's obligations under the Building Contract and will as soon as practicable thereafter remedy any outstanding breach by the Contractor that properly has been included in the Building Contractor's specified grounds and which is capable of default enumerated remedy by the Authority; and if the Authority has given such notice as aforesaid or under clause 10.3, the Authority will from the service of such notice become responsible for all sums properly payable to the Building Contractor under the Building Contract accruing due after the service of such notice but the Authority will in paying such sums be entitled to the same rights of set-off and deduction as would have applied to the Contractor under the Building Contract. Notwithstanding anything contained in this Article, Deed and following 30 days' notice notwithstanding any payments which may be made by the Authority and Company's failure to cure, Authority, at its election, may exercise any one or more of the following options or remediesBuilding Contractor, the exercise of any of which Authority will not be deemed under any obligation to preclude the exercise Building Contractor nor will the Building Contractor have any claim or cause of action against the Authority unless and until the Authority has given written notice to the Building Contractor pursuant to clause 10.1.1 or clause 10.3 of this Deed. The Building Contractor further covenants with the Authority that if the employment of the Contractor under the Project Agreement is terminated or if the Project Agreement is terminated by the Authority the Building Contractor, if requested by the Authority by notice in writing and subject to clause 10.1.2 and clause 10.1.3, will accept the instructions of the Authority to the exclusion of the Contractor in respect of its duties under the Building Contract upon the terms and conditions of the Building Contract and will if so requested in writing enter into a novation agreement in the form set out in Appendix 1197 to this Deed whereby the Authority is substituted for the Contractor under the Building Contract. If the Building Contractor is requested to enter into a novation agreement pursuant to clause 10.3, the Contractor agrees to enter into the same at the request of the Authority. Where the Building Contractor has given rights in relation to the Building Contract similar to those contained in this clause to the Lender then if both the Authority and the Lender serve notice under clause 10.1.1 or clause 10.3 or its equivalent the notice served by the Authority will not prevail over any notice served by the Lender but will prevail over any notice served by any other remedy herein listed person. The Contractor acknowledges that the Building Contractor will be entitled to rely on a notice given to the Building Contractor by the Authority under clause 10.3 as conclusive evidence that the employment of the Contractor under the Project Agreement has been terminated or otherwise provided that the Project Agreement has been terminated. The Authority may by statute or general law: A. Terminate Company’s notice in writing to the Building Contractor appoint another person to exercise its rights under this Agreement. Company will remain clause 10 subject to the Authority remaining liable to the Building Contractor as guarantor for all payments or other sums due its appointee in respect of its obligations under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 percent (FRBNY prime + 4%) or 12 percent per annum, whichever is greater, to the maximum extent permitted by law; or C. Declare this Agreement to be terminated, ended, null and void. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to exercise any right, power, privilege, or option arising from any default, nor subsequent acceptance of fees or charges then or thereafter accrued, will impair any such right, power, privilege, or option, or be construed to be a waiver of any such default. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, or remedy by Authority will not impair its rights to any other right, power, option, privilege, or remedy available under this Agreement or as provided by lawDeed.

Appears in 2 contracts

Samples: Project Agreement, Project Agreement

Authority’s Remedies. In the event of any of the foregoing events of default enumerated in this Article, and following 30 days' notice by Authority and Company's ’s failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this AgreementAgreement and, in accordance with law, take possession of the Premises. Authority will not be deemed to have thereby accepted a surrender of the Premises, and Company will remain liable for all payments due, or other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default will become immediately due and payable, payable as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 four percent (FRBNY prime + 4+4%) or 12 percent 12% per annum, whichever is greater, to the maximum extent permitted by law; or. C. Declare this Agreement to be terminated, ended, null and void, and reclaim possession of the Premises, whereupon all rights and interest of Company in the Premises and Common Use Areas will end. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to re-enter the Premises or to exercise any right, power, privilege, or option arising from any default, default nor subsequent acceptance of fees or charges then or thereafter accrued, accrued will impair any such right, power, privilege, or option, or be construed to be a waiver of any such defaultdefault or relinquishment, or acquiescence of the Premises. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, or remedy by Authority will not impair its rights to any other right, power, option, privilege, or remedy available under this Agreement or as provided by law.

Appears in 2 contracts

Samples: Cargo Building Space Rental Agreement, Cargo Building Space Rental Agreement

Authority’s Remedies. In the event of any of the foregoing events of default enumerated in this Article, and following 30 days' notice by Authority and Company's ’s failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this AgreementAgreement and, in accordance with law, take possession of the Premises. Authority will not be deemed to have thereby accepted a surrender of the Premises, and Company will remain liable for all payments due, or other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 four percent (FRBNY prime + 4%) or 12 percent 12% per annum, whichever is greater, to the maximum extent permitted by law; or C. Declare this Agreement to be terminated, ended, null and void, and reclaim possession of the Premises, whereupon all rights and interest of Company in the Premises and common use areas will end. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance non-compliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to re-enter the Premises or to exercise any right, power, privilege, or option arising from any default, default nor subsequent acceptance of fees or charges then or thereafter accrued, accrued will impair any such right, power, privilege, or option, or be construed to be a waiver of any such defaultdefault or relinquishment, or acquiescence of the Premises. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, privilege or remedy by Authority will not impair its rights to any other right, power, option, privilege, privilege or remedy available under this Agreement or as provided by law.

Appears in 2 contracts

Samples: Space Rental Agreement, Space Rental Agreement

Authority’s Remedies. In the event of any of the foregoing events of default enumerated in this Article, and following 30 days' notice by Authority and Company's ’s failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this AgreementAgreement and, in accordance with law, take possession of the Premises. Authority will not be deemed to have thereby accepted a surrender of the Premises, and Company will remain liable for all payments due, or other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 four percent (FRBNY prime + 4%) or 12 percent 12% per annum, whichever is greater, to the maximum extent permitted by law; or C. Declare this Agreement to be terminated, ended, null and void. , and reclaim possession of the Premises, whereupon all rights and interest of Company in the Premises and common use areas will end. D. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance non-compliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to re-enter the Premises or to exercise any right, power, privilege, or option arising from any default, default nor subsequent acceptance of fees or charges then or thereafter accrued, accrued will impair any such right, power, privilege, or option, or be construed to be a waiver of any such defaultdefault or relinquishment, or acquiescence of the Premises. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, privilege or remedy by Authority will not impair its rights to any other right, power, option, privilege, privilege or remedy available under this Agreement or as provided by law.

Appears in 1 contract

Samples: Use and Lease Agreement

Authority’s Remedies. In the event of any of the foregoing events Events of default Default enumerated in this Article, and following 30 thirty (30) days' notice by the Authority and Company's failure to cure, the Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this Agreement. Company will remain liable for all payments or other sums due under this Agreement and for all damages suffered by the Authority because of Company’s breach of any of the covenants of this Agreement; oror SAMPLE B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by the Authority directly or indirectly in curing Company’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank rate of New York prime rate in effect on the date the fees or charges became due plus 4 one and one-half percent (FRBNY prime + 41.5%) or 12 percent per annum, whichever is greatermonth, to the maximum extent permitted by lawApplicable Laws; or C. Declare this Agreement to be terminated, ended, null and void. No waiver by the Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of the Authority to exercise any right, power, privilege, or option option, arising from any default, nor subsequent acceptance of fees or charges then or thereafter accrued, will impair any such right, power, privilege, or option, or be construed to be a waiver of any such default. No notice by the Authority will be required to restore or revive time is of the essence hereof after waiver by the Authority or default in one or more instances. No option, right, power, remedy, or privilege of the Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to the Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, or remedy by the Authority will not impair its rights to any other right, power, option, privilege, or remedy available under this Agreement or as provided by lawApplicable Laws.

Appears in 1 contract

Samples: Operating Agreement

Authority’s Remedies. In the event of any of the foregoing events of default enumerated in this Article, and following 30 thirty (30) days' notice by Authority and Company's failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s 's rights under this Agreement. Contract and, in accordance with law, Company will remain liable for all payments or other sums due under this Agreement Contract and for all damages suffered by Authority because of Company’s 's breach of any of the covenants of this AgreementContract; or B. Treat the Agreement this Contract as remaining in existence, curing Company’s 's default by performing or paying the obligation that which Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s 's default will become immediately due and payable, payable as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 twelve percent (FRBNY prime + 412%) per annum or 12 percent per annum, whichever is greater, to the maximum extent permitted by law; or C. Declare this Agreement Contract to be terminated, ended, null and void. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this AgreementContract, or noncompliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to exercise any right, power, privilege, or option arising from any default, nor subsequent acceptance of fees or charges then or thereafter accrued, will impair any such right, power, privilege, or option, or be construed to be a waiver of any such default. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement Contract are cumulative and that the exercise of one right, power, option, privilege, or remedy by Authority will not impair its rights to any other right, power, option, privilege, or remedy available under this Agreement Contract or as provided by law. No act or thing done by Authority or Authority agents or employees during the Term will be deemed an acceptance of the surrender of this Contract, and no acceptance of surrender will be valid unless in writing.

Appears in 1 contract

Samples: Space Rental Contract

Authority’s Remedies. In the event of any of the foregoing events of default enumerated in this Article, and following 30 days' notice by Authority and Company's Xxxxxx’s failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate CompanyXxxxxx’s rights under this AgreementLease and, in accordance with law, take possession of the Premises. Company Authority will not be deemed to have thereby accepted a surrender of the Premises, and Xxxxxx will remain liable for all payments due or other sums due under this Agreement Lease and for all damages suffered by Authority because of CompanyLessee’s breach of any of the covenants of this AgreementLease; or B. Treat the Agreement this Lease as remaining in existence, curing CompanyXxxxxx’s default by performing or paying the obligation that Company has Lessee breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing CompanyLessee’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 four percent (FRBNY prime + 4+4%) or 12 percent 12% per annum, whichever is greater, to the maximum extent permitted by law; or C. Declare this Agreement Lease to be terminated, ended, null and void, and reclaim possession of the Premises, whereupon all rights and interest of Lessee in the Premises will end. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this AgreementLease, or noncompliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by CompanyXxxxxx. No delay, failure, or omission of Authority to re-enter the Premises or to exercise any right, power, privilege, or option arising from any default, default nor subsequent acceptance of fees or charges then or thereafter accrued, accrued will impair any such right, power, privilege, or option, or be construed to be a waiver of any such defaultdefault or relinquishment, or acquiescence of the Premises. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement Lease are cumulative and that the exercise of one right, power, option, privilege, or remedy by Authority will not impair its rights to any other right, power, option, privilege, or remedy available under this Agreement Lease or as provided by law.

Appears in 1 contract

Samples: Ground Lease With Improvements

Authority’s Remedies. In the event of any of the foregoing events Events of default Default enumerated in this Article, and following 30 thirty (30) days' notice by Authority and Company's ’s failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this AgreementAgreement and, in accordance with Applicable Laws, take possession of the Company Premises. The Authority will not be deemed to have thereby accepted a surrender of the Company Premises, and Company will remain liable for all payments or and other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the this Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default default, plus an Administrative Charge thereon, will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank rate of New York prime rate in effect on the date the fees or charges became due plus 4 one and one-half percent (FRBNY prime + 41.5%) or 12 percent per annum, whichever is greatermonth, to the maximum extent permitted by lawApplicable Laws; or C. Declare this Agreement to be terminated, ended, null and void. , and reclaim possession of the Company Premises, whereupon all rights and interest of Company in its Company Premises and common use areas will end. D. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance non-compliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to re-enter the Company Premises or to exercise any right, power, privilege, or option arising from any default, default nor subsequent acceptance of fees or charges then or thereafter accrued, accrued will impair any such right, power, privilege, or option, or be construed to be a waiver of any such defaultdefault or relinquishment, or acquiescence of the Company Premises. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, privilege or remedy by Authority will not impair its rights to any other right, power, option, privilege, privilege or remedy available under this Agreement or as provided by lawApplicable Laws.

Appears in 1 contract

Samples: Use and Lease Agreement

Authority’s Remedies. In the event of any of the foregoing events of default enumerated in this Article, and following 30 days' notice by Authority and Company's failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this Agreement. Company will remain liable for all payments or other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 four percent (FRBNY prime + 4%) or 12 twelve percent (12%) per annum, whichever is greater, to the maximum extent permitted by law; or C. Declare this Agreement to be terminated, ended, null and void. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance non-compliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to exercise any right, power, privilege, or option arising from any default, nor subsequent acceptance of fees or charges then or thereafter accrued, will impair any such right, power, privilege, or option, or be construed to be a waiver of any such default. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, or remedy by Authority will not impair its rights to any other right, power, option, privilege, or remedy available under this Agreement or as provided by law.

Appears in 1 contract

Samples: Operating Agreement

Authority’s Remedies. In the event of any of the foregoing events Events of default Default enumerated in this Article, and following 30 thirty (30) days' notice by Authority and Company's ’s failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this AgreementAgreement and, in accordance with Applicable Laws, take possession of the Company Premises. The Authority will not be deemed to have thereby accepted a surrender of the Company Premises, and Company will remain liable for all payments or and other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the this Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default default, plus an Administrative Charge thereon, will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, DocuSign Envelope ID: 592E0882-A82A-48D1-B8F8-29D404B52E52 at the Federal Reserve Bank rate of New York prime rate in effect on the date the fees or charges became due plus 4 one and one-half percent (FRBNY prime + 41.5%) or 12 percent per annum, whichever is greatermonth, to the maximum extent permitted by lawApplicable Laws; or C. Declare this Agreement to be terminated, ended, null and void, and reclaim possession of the Company Premises, whereupon all rights and interest of Company in its Company Premises and common use areas will end. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance non-compliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to re-enter the Company Premises or to exercise any right, power, privilege, or option arising from any default, default nor subsequent acceptance of fees or charges then or thereafter accrued, accrued will impair any such right, power, privilege, or option, or be construed to be a waiver of any such defaultdefault or relinquishment, or acquiescence of the Company Premises. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, privilege or remedy by Authority will not impair its rights to any other right, power, option, privilege, privilege or remedy available under this Agreement or as provided by lawApplicable Laws.

Appears in 1 contract

Samples: Space Rental Agreement

Authority’s Remedies. In the event of any of the foregoing events Events of default Default enumerated in this Article, and following 30 thirty (30) days' notice by the Authority and Company's failure to cure, the Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law:: DocuSign Envelope ID: CE9146BA-E4EF-40FF-9FA5-1CD4FAE8DD2B A. Terminate Company’s rights under this Agreement. Company will remain liable for all payments or other sums due under this Agreement and for all damages suffered by the Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by the Authority directly or indirectly in curing Company’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank rate of New York prime rate in effect on the date the fees or charges became due plus 4 one and one-half percent (FRBNY prime + 41.5%) or 12 percent per annum, whichever is greatermonth, to the maximum extent permitted by lawApplicable Laws; or C. Declare this Agreement to be terminated, ended, null and void. No waiver by the Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of the Authority to exercise any right, power, privilege, or option option, arising from any default, nor subsequent acceptance of fees or charges then or thereafter accrued, will impair any such right, power, privilege, or option, or be construed to be a waiver of any such default. No notice by the Authority will be required to restore or revive time is of the essence hereof after waiver by the Authority or default in one or more instances. No option, right, power, remedy, or privilege of the Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to the Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, or remedy by the Authority will not impair its rights to any other right, power, option, privilege, or remedy available under this Agreement or as provided by lawApplicable Laws.

Appears in 1 contract

Samples: Operating Agreement

Authority’s Remedies. In the event of any of the foregoing events Events of default Default enumerated in this Article, and following 30 thirty (30) days' notice by the Authority and Company's failure to cure, the Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law:: SAMPLE A. Terminate Company’s rights under this Agreement. Company will remain liable for all payments or other sums due under this Agreement and for all damages suffered by the Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by the Authority directly or indirectly in curing Company’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank rate of New York prime rate in effect on the date the fees or charges became due plus 4 one and one-half percent (FRBNY prime + 41.5%) or 12 percent per annum, whichever is greatermonth, to the maximum extent permitted by lawApplicable Laws; or C. Declare this Agreement to be terminated, ended, null and void. No waiver by the Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of the Authority to exercise any right, power, privilege, or option option, arising from any default, nor subsequent acceptance of fees or charges then or thereafter accrued, will impair any such right, power, privilege, or option, or be construed to be a waiver of any such default. No notice by the Authority will be required to restore or revive time is of the essence hereof after waiver by the Authority or default in one or more instances. No option, right, power, remedy, or privilege of the Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to the Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, or remedy by the Authority will not impair its rights to any other right, power, option, privilege, or remedy available under this Agreement or as provided by lawApplicable Laws.

Appears in 1 contract

Samples: Operating Agreement

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Authority’s Remedies. In the event of any of the foregoing events of default enumerated in this Article, and following 30 days' notice by Authority and Company's ’s failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy others herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this Agreement. , and Company will remain liable for all payments due or other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default will become immediately due and payable, payable as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 four percent (FRBNY prime + 4%) or 12 twelve percent (12%) per annum, whichever is greater, to the maximum extent permitted by law; or. C. Declare this Agreement to be terminated, ended, null and void. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to exercise any right, power, privilege, or option arising from any default, nor subsequent acceptance of fees or charges then or thereafter accrued, accrued will impair any such right, power, privilege, or option, or be construed to be a waiver of any such default. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, or remedy by Authority will not impair its rights to any other right, power, option, privilege, or remedy available under this Agreement or as provided by law.

Appears in 1 contract

Samples: Operating Agreement

Authority’s Remedies. In the event of any of the foregoing events of default enumerated in this Article, and following 30 days' days notice by Authority and Company's ’s failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this AgreementAgreement and, in accordance with law, take possession of the Premises. Authority will not be deemed to have thereby accepted a surrender of the Premises, and Company will remain liable for all payments due or other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the this Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 four percent (FRBNY prime + 4+4%) or 12 percent 12% per annum, whichever is greater, to the maximum extent permitted by law; or. C. Declare this Agreement to be terminated, ended, null and void, and reclaim possession of the Premises, whereupon all rights and interest of Company in the Premises will end. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to re-enter the Premises or to exercise any right, power, privilege, or option arising from any default, default nor subsequent acceptance of fees or charges then or thereafter accrued, accrued will impair any such right, power, privilege, or option, or be construed to be a waiver of any such defaultdefault or relinquishment, or acquiescence of the Premises. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, or remedy by Authority will not impair its rights to any other right, power, option, privilege, or remedy available under this Agreement or as provided by law.

Appears in 1 contract

Samples: Lease and License Agreement

Authority’s Remedies. In the event of any of the foregoing events Events of default Default enumerated in this Article, and following 30 days' thirty (30) days’ notice by Authority and Company's Company’s failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s Company’s rights under this AgreementAgreement and, in accordance with Applicable Laws, take possession of the Company Premises. The Authority will not be deemed to have thereby accepted a surrender of the Company Premises, and Company will remain liable for all payments or and other sums due under this Agreement and for all damages suffered by Authority because of Company’s Company’s breach of any of the covenants of this Agreement; or B. Treat the this Agreement as remaining in existence, curing Company’s Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default Company’s default, plus an Administrative Charge thereon, will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank rate of New York prime rate in effect on the date the fees or charges became due plus 4 one and one-half percent (FRBNY prime + 41.5%) or 12 percent per annum, whichever is greatermonth, to the maximum extent permitted by lawApplicable Laws; or C. Declare this Agreement to be terminated, ended, null and void, and reclaim possession of the Company Premises, whereupon all rights and interest of Company in its Company Premises and common use areas will end. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance non-compliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to re-enter the Company Premises or to exercise any right, power, privilege, or option arising from any default, default nor subsequent acceptance of fees or charges then or thereafter accrued, accrued will impair any such right, power, privilege, or option, or be construed to be a waiver of any such defaultdefault or relinquishment, or acquiescence of the Company Premises. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, privilege or remedy by Authority will not impair its rights to any other right, power, option, privilege, privilege or remedy available under this Agreement or as provided by lawApplicable Laws.

Appears in 1 contract

Samples: Space Rental Agreement

Authority’s Remedies. In the event of any of the foregoing events Events of default Default enumerated in this Article, and following 30 thirty (30) days' notice by Authority and Company's ’s failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of DocuSign Envelope ID: ACD48BA7-3953-457D-801C-2A1EA6D38368 any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this AgreementAgreement and, in accordance with Applicable Laws, take possession of the Company Premises. The Authority will not be deemed to have thereby accepted a surrender of the Company Premises, and Company will remain liable for all payments or and other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the this Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default default, plus an Administrative Charge thereon, will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank rate of New York prime rate in effect on the date the fees or charges became due plus 4 one and one-half percent (FRBNY prime + 41.5%) or 12 percent per annum, whichever is greatermonth, to the maximum extent permitted by lawApplicable Laws; or C. Declare this Agreement to be terminated, ended, null and void, and reclaim possession of the Company Premises, whereupon all rights and interest of Company in its Company Premises and common use areas will end. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance non-compliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to re-enter the Company Premises or to exercise any right, power, privilege, or option arising from any default, default nor subsequent acceptance of fees or charges then or thereafter accrued, accrued will impair any such right, power, privilege, or option, or be construed to be a waiver of any such defaultdefault or relinquishment, or acquiescence of the Company Premises. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, privilege or remedy by Authority will not impair its rights to any other right, power, option, privilege, privilege or remedy available under this Agreement or as provided by law.Applicable Laws. DocuSign Envelope ID: ACD48BA7-3953-457D-801C-2A1EA6D38368

Appears in 1 contract

Samples: Space Rental Agreement

Authority’s Remedies. In Subject to this Section 11.2, upon the event occurrence of any of the foregoing events of default enumerated Tenant Default, Authority may, in this Articleits sole discretion, and following 30 days' notice by Authority and Company's failure to cure, Authority, at its election, may exercise pursue any one or more of the following options or remedies, in addition to any other remedies available to Authority at law or in equity or as otherwise specified in this Agreement, after delivery of written notice to Tenant: (i) Authority may (but under no circumstance shall be obligated to) terminate this Agreement and upon such termination Authority may forthwith reenter and repossess the exercise Stadium by entry, forcible entry or detainer suit or otherwise, without demand or further notice of any of which will not kind and be deemed entitled to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights recover, as damages under this Agreement, a sum of money equal to the total of (i) the reasonable cost of recovering the Stadium, (ii) the reasonable cost of removing and storing Tenant’s Personal Property or any other occupant’s Property, (iii) the unpaid Rent and any other sums accrued hereunder at the date of termination and (iv) any increase in insurance premiums caused by the vacancy of the Stadium. Company will remain In the event Authority shall elect to terminate this Agreement, Authority shall at once have all the rights of reentry upon the Stadium, without becoming liable for damages or guilty of trespass. (ii) Authority may (but under no circumstance shall be obligated to) terminate Tenant’s right of occupancy of all payments or other sums due any part of the Stadium and reenter and repossess the Stadium by entry, forcible entry or detainer suit or otherwise, without demand or further notice of any kind to Tenant and without terminating this Agreement, without acceptance of surrender of possession of the Stadium, and without becoming liable for damages or guilty of trespass, in which event Authority shall make commercially reasonable efforts to relet the Stadium or any part thereof for the account of Tenant for a period equal to or lesser or greater than the remainder of the Term on whatever terms and conditions Authority, in Authority’s sole discretion, deems advisable. Tenant shall be liable for and shall pay to Authority all Rent payable by Tenant under this Agreement and for all damages suffered by Authority because plus an amount equal to (i) the reasonable cost of Company’s breach of any recovering possession of the covenants of this Agreement; or B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 percent (FRBNY prime + 4%) or 12 percent per annum, whichever is greater, to the maximum extent permitted by law; or C. Declare this Agreement to be terminated, ended, null and void. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to exercise any right, power, privilege, or option arising from any default, nor subsequent acceptance of fees or charges then or thereafter accrued, will impair any such right, power, privilege, or option, or be construed to be a waiver of any such default. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, or remedy by Authority will not impair its rights to any other right, power, option, privilege, or remedy available under this Agreement or as provided by law.Stadium,

Appears in 1 contract

Samples: Stadium Lease Agreement

Authority’s Remedies. In the event of any of the foregoing events of default enumerated in this Article, and following 30 days' notice by Authority and Company's ’s failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy others herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this Agreement. , and Company will remain liable for all payments due or other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default will become immediately due and payable, payable as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 four percent (FRBNY prime + 4%) or 12 twelve percent (12%) per annum, whichever is greater, to the maximum extent permitted by law; or. C. Declare this Agreement to be terminated, ended, null and void. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance non-compliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to exercise any right, power, privilege, or option arising from any default, nor subsequent acceptance of fees or charges then or thereafter accrued, accrued will impair any such right, power, privilege, or option, or be construed to be a waiver of any such default. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, or remedy by Authority will not impair its rights to any other right, power, option, privilege, or remedy available under this Agreement or as provided by law.

Appears in 1 contract

Samples: Operating Agreement

Authority’s Remedies. SAMPLE In the event of any of the foregoing events of default enumerated in this Article, and following 30 days' notice by Authority and Company's ’s failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this AgreementAgreement and, in accordance with law, take possession of the Premises. Authority will not be deemed to have thereby accepted a surrender of the Premises, and Company will remain liable for all payments due, or other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 four percent (FRBNY prime + 4%) or 12 percent 12% per annum, whichever is greater, to the maximum extent permitted by law; or C. Declare this Agreement to be terminated, ended, null and void, and reclaim possession of the Premises, whereupon all rights and interest of Company in the Premises and Common Use Areas will end. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance non-compliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to re-enter the Premises or to exercise any right, power, privilege, or option arising from any default, default nor subsequent acceptance of fees or charges then or thereafter accrued, accrued will impair any such right, power, privilege, or option, or be construed to be a waiver of any such defaultdefault or relinquishment, or acquiescence of the Premises. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, privilege or remedy by Authority will not impair its rights to any other right, power, option, privilege, privilege or remedy available under this Agreement or as provided by law.

Appears in 1 contract

Samples: Ground Service Equipment Facilities Space Rental Agreement

Authority’s Remedies. In the event of any of the foregoing events of default enumerated in this Article, and following 30 days' notice by Authority and Company's failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this Agreement. Company will remain liable for all payments or other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 percent (FRBNY prime + 4%) or 12 percent per annum, whichever is greater, to the maximum extent permitted by law; or C. Declare this Agreement to be terminated, ended, null and void. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance non-compliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to exercise any right, power, privilege, or option arising from any default, nor subsequent acceptance of fees or charges then or thereafter accrued, will impair any such right, power, privilege, or option, or be construed to be a waiver of any such default. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, or remedy by Authority will not impair its rights to any other right, power, option, privilege, or remedy available under this Agreement or as provided by law.

Appears in 1 contract

Samples: Operating Agreement

Authority’s Remedies. In the event of any of the foregoing events of default enumerated in this Article, and following 30 days' notice by Authority and Company's failure to curedefault, the Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will shall not be deemed to preclude the exercise of any other remedy others herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights 's right to possession under this Agreementthe Agreement and in accordance with law re-enter and retake possession of the Demised Premises and relet or attempt to relet the same on behalf of Company at such rent and under such terms and conditions as the Authority may deem commercially reasonable. The Authority shall not be deemed to have thereby accepted a surrender of the Demised Premises, and Company will shall remain liable for all payments rent, or other sums due under this Agreement and for all damages suffered by the Authority because of Company’s 's breach of any of the covenants of this the Agreement; or B. In the event that Authority relets Demised Premises, rentals, fees, and charges received by Authority from such reletting shall be applied: (i) to the payment of any indebtedness other than rentals, fees, and charges due hereunder from Company to Authority; (ii) to the payment of any cost of such reletting; and (iii) to the payment of rentals, fees, and charges due and unpaid hereunder. The residue, if any, shall be held by Authority and applied in payment of future rentals, fees, and charges as the same may become due and payable hereunder. If that portion of such rentals, fees, and charges received from such reletting and applied to the payment of rentals, fees, and charges hereunder is less than the rentals, fees, and charges as would have been payable during applicable periods by Company hereunder, then Company shall pay such deficiency to Authority. Company shall also pay to Authority, as soon as ascertained, any reasonable costs and expenses incurred by Authority in such reletting not covered by the rentals, fees, and charges received from such reletting. C. Declare this Agreement to be terminated, ended and null and void, and re-enter upon and take possession of the Demised Premises whereupon all right and interest of Company in the Demised Premises shall end; or D. Treat the Agreement as remaining in existence, curing Company’s 's default by performing or paying the obligation that which Company has breached. In such event , and all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s 's default will shall become immediately due and payable, as well as payable and shall bear interest thereon, at the highest rate permitted by law from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 percent (FRBNY prime + 4%) or 12 percent per annum, whichever is greater, to the maximum extent permitted by law; or C. Declare this Agreement to be terminated, ended, null and void. No waiver disbursement by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof until paid by Company. No delayIf the breach consists of a failure to pay rent as stipulated in this Agreement and Authority elects to treat the Agreement as remaining in existence, failure, or omission of Authority can take such action as is necessary to exercise any right, power, privilege, or option arising from any default, nor subsequent acceptance of fees or charges then or thereafter accrued, will impair any such right, power, privilege, or option, or be construed to be a waiver of any such default. No notice by Authority will be required to restore or revive time is of recover the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed rent due as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each installment matures. E. Any and all of the rights, powers, options, privileges, or other remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, or remedy by Authority will not impair its rights to any other right, power, option, privilege, or remedy available under this Agreement or as provided by law.

Appears in 1 contract

Samples: Use and Lease Agreement for Fuel Facilities and Pipeline

Authority’s Remedies. In the event of any of the foregoing events of default enumerated in this Article, and following 30 days' notice by Authority and Company's ’s failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this AgreementAgreement and, in accordance with law, take possession of the Premises. Authority will not be deemed to have thereby accepted a surrender of the Premises, and Company will remain liable for all payments due, or other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; oror North Cargo Space Rental Agreement - 23 - September 28, 2017 LGSTX SERVICES, INC. B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 four percent (FRBNY prime + 4%) or 12 percent 12% per annum, whichever is greater, to the maximum extent permitted by law; or. C. Declare this Agreement to be terminated, ended, null and void, and reclaim possession of the Premises, whereupon all rights and interest of Company in the Premises and Common Use Areas will end. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance non-compliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to re-enter the Premises or to exercise any right, power, privilege, or option arising from any default, default nor subsequent acceptance of fees or charges then or thereafter accrued, accrued will impair any such right, power, privilege, or option, or be construed to be a waiver of any such defaultdefault or relinquishment, or acquiescence of the Premises. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, privilege or remedy by Authority will not impair its rights to any other right, power, option, privilege, privilege or remedy available under this Agreement or as provided by law.

Appears in 1 contract

Samples: Space Rental Agreement

Authority’s Remedies. In the event of any of the foregoing events Events of default Default enumerated in this Article, and following 30 thirty (30) days' notice by the Authority and Company's failure to cure, the Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this Agreement. Company will remain liable for all payments or other sums due under this Agreement and for all damages suffered by the Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by the Authority directly or indirectly in curing Company’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank rate of New York prime rate in effect on the date the fees or charges became due plus 4 one and one-half percent (FRBNY prime + 41.5%) or 12 percent per annum, whichever is greatermonth, to the maximum extent permitted by lawApplicable Laws; or C. Declare this Agreement to be terminated, ended, null and void. No waiver by the Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of the Authority to exercise any right, power, privilege, or option option, arising from any default, nor subsequent acceptance of fees or charges then or thereafter accrued, will impair any such right, power, privilege, or option, or be construed to be a waiver of any such default. No notice by the Authority will be required to restore or revive time is of the essence hereof after waiver by the Authority or default in one or more instances. No option, right, power, remedy, or privilege of the Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, DocuSign Envelope ID: 592E0882-A82A-48D1-B8F8-29D404B52E52 options, privileges, or remedies given to the Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, or remedy by the Authority will not impair its rights to any other right, power, option, privilege, or remedy available under this Agreement or as provided by lawApplicable Laws.

Appears in 1 contract

Samples: Operating Agreement

Authority’s Remedies. In the event of any of the foregoing events of default enumerated in this Article, and following 30 days' notice by Authority and Company's ’s failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this AgreementAgreement and, in accordance with law, take possession of the Premises. Authority will not be deemed to have thereby accepted a surrender of the Premises, and Company will remain liable for all payments or other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 four percent (FRBNY prime + 4%) or 12 percent 12% per annum, whichever is greater, to the maximum extent permitted by law; or. C. Declare this Agreement to be terminated, ended, null and void, and reclaim possession of the Premises, whereupon all rights and interest of Company in the Premises and common use areas will end. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance non-compliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to re-enter the Premises or to exercise any right, power, privilege, or option arising from any default, default nor subsequent acceptance of fees or charges then or thereafter accrued, accrued will impair any such right, power, privilege, or option, or be construed to be a waiver of any such defaultdefault or relinquishment, or acquiescence of the Premises. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, privilege or remedy by Authority will not impair its rights to any other right, power, option, privilege, privilege or remedy available under this Agreement or as provided by law.

Appears in 1 contract

Samples: Space Rental Agreement

Authority’s Remedies. In the event of any of the foregoing events of default enumerated in this Article, and following 30 days' notice by Authority and Company's failure to curedefault, the Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will shall not be deemed to preclude the exercise of any other remedy others herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights 's right to possession under this Agreementthe Agreement and in accordance with law re-enter and retake possession of the Demised Premises and relet or attempt to relet the same on behalf of Company at such rent and under such terms and conditions as the Authority may deem commercially reasonable. The Authority shall not be deemed to have thereby accepted a surrender of the Demised Premises, and Company will shall remain liable for all payments rent, or other sums due under this Agreement and for all damages suffered by the Authority because of Company’s 's breach of any of the covenants of this the Agreement; or B. Treat In the event that Authority relets Demised Premises, rentals, fees, and charges received by Authority from such reletting shall be applied: (i) to the payment of any indebtedness other than rentals, fees, and charges due hereunder from Company to Authority; (ii) to the payment of any cost of such reletting; and (iii) to the payment of rentals, fees, and charges due and unpaid hereunder. The residue, if any, shall be held by Authority and applied in payment of future rentals, fees, and charges as the same may become due and payable hereunder. If that portion of such rentals, fees, and charges received from such reletting and applied to the payment of rentals, fees, and charges hereunder is less than the rentals, fees, and charges as would have been payable during applicable periods by Company hereunder, then Company shall pay such deficiency to Authority. Company shall also pay to Authority, as soon as ascertained, any reasonable costs and expenses incurred by Authority in such reletting not covered by the rentals, fees, and charges received from such reletting. C. Declare this Agreement to be terminated, ended and null and void, and re-enter upon and take possession of the Demised Premises whereupon all right and interest of Company in the Demised Premises shall end; or X. Xxxxx the Agreement as remaining in existence, curing Company’s 's default by performing or paying the obligation that which Company has breached. In such event , and all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s 's default will shall become immediately due and payable, as well as payable and shall bear interest thereon, at the highest rate permitted by law from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 percent (FRBNY prime + 4%) or 12 percent per annum, whichever is greater, to the maximum extent permitted by law; or C. Declare this Agreement to be terminated, ended, null and void. No waiver disbursement by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof until paid by Company. No delayIf the breach consists of a failure to pay rent as stipulated in this Agreement and Authority elects to treat the Agreement as remaining in existence, failure, or omission of Authority can take such action as is necessary to exercise any right, power, privilege, or option arising from any default, nor subsequent acceptance of fees or charges then or thereafter accrued, will impair any such right, power, privilege, or option, or be construed to be a waiver of any such default. No notice by Authority will be required to restore or revive time is of recover the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed rent due as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each installment matures. E. Any and all of the rights, powers, options, privileges, or other remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, or remedy by Authority will not impair its rights to any other right, power, option, privilege, or remedy available under this Agreement or as provided by law.

Appears in 1 contract

Samples: Use and Lease Agreement for Fuel Facilities and Pipeline

Authority’s Remedies. In the event of any of the foregoing events of default enumerated in this Article, and following 30 days' notice by Authority and Company's failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this Agreement. Company will remain liable for all payments or other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 percent (FRBNY prime + 4%) or 12 percent per annum, whichever is greater, to the maximum extent permitted by law; or C. Declare this Agreement to be terminated, ended, null and void. SAMPLE No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to exercise any right, power, privilege, or option arising from any default, nor subsequent acceptance of fees or charges then or thereafter accrued, will impair any such right, power, privilege, or option, or be construed to be a waiver of any such default. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, or remedy by Authority will not impair its rights to any other right, power, option, privilege, or remedy available under this Agreement or as provided by law.

Appears in 1 contract

Samples: Operating Agreement

Authority’s Remedies. In the event of any of the foregoing events of default enumerated in this Article, and following 30 days' notice by Authority and Company's ’s failure to cure, Authority, at its election, may exercise any one or more of the following options or remedies, the exercise of any of which will not be deemed to preclude the exercise of any other remedy herein listed or otherwise provided by statute or general law: A. Terminate Company’s rights under this AgreementAgreement and, in accordance with law, take possession of the Premises. Authority will not be deemed to have thereby accepted a surrender of the Premises, and Company will remain liable for all payments due, or other sums due under this Agreement and for all damages suffered by Authority because of Company’s breach of any of the covenants of this Agreement; or B. Treat the Agreement as remaining in existence, curing Company’s default by performing or paying the obligation that Company has breached. In such event all sums paid or expenses incurred by Authority directly or indirectly in curing Company’s default will become immediately due and payable, as well as interest thereon, from the date such fees or charges became due to the date of payment, at the Federal Reserve Bank of New York prime rate in effect on the date the fees or charges became due plus 4 four percent (FRBNY prime + 4%) or 12 percent 12% per annum, whichever is greater, to the maximum extent permitted by law; or. C. Declare this Agreement to be terminated, ended, null and void, and reclaim possession of the Premises, whereupon all rights and interest of Company in the Premises and common use areas will end. No waiver by Authority at any time of any of the terms, conditions, covenants, or agreements of this Agreement, or noncompliance therewith, will be deemed or taken as a waiver at any time thereafter of the same or any other term, condition, covenant, or agreement herein contained, nor of the strict and prompt performance thereof by Company. No delay, failure, or omission of Authority to re-enter the Premises or to exercise any right, power, privilege, or option arising from any default, default nor subsequent acceptance of fees or charges then or thereafter accrued, accrued will impair any such right, power, privilege, or option, or be construed to be a waiver of any such defaultdefault or relinquishment, or acquiescence of the Premises. No notice by Authority will be required to restore or revive time is of the essence hereof after waiver by Authority or default in one or more instances. No option, right, power, remedy, or privilege of Authority will be construed as being exhausted or discharged by the exercise thereof in one or more instances. It is agreed that each and all of the rights, powers, options, privileges, or remedies given to Authority by this Agreement are cumulative and that the exercise of one right, power, option, privilege, or remedy by Authority will not impair its rights to any other right, power, option, privilege, or remedy available under this Agreement or as provided by law.

Appears in 1 contract

Samples: Space Rental Agreement

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