Common use of Cancellation, Breach and Redemption Clause in Contracts

Cancellation, Breach and Redemption. 3.2.1 The Utility has the right to cancel this Agreement at any time: .1 If the Developer commits a fundamental breach of the terms or conditions of this Agreement, or of any bylaw, policy, regulation, or order of the Board. A fundamental breach shall include, but not be limited to: i. Bankruptcy of the Developer or any of the principals of the Developer where it is apparent that the Developer may not be able to complete its obligations under this Agreement; ii. Assignment or transfer of this Agreement or of the Development to any third party without the prior written consent of the Utility; Any change in the ownership of the Developer that has the effect of assignment or transfer of this Agreement to a third party, without the prior written consent of the Utility; iii. Any action by the Developer that is contrary to the good faith relationship between the Developer and the Utility and is not capable of being remedied by the Developer; .2 If the Developer commits any other breach of the terms and conditions of this Agreement, or of any bylaw, policy, regulation, or order of the Board, that is not a fundamental breach as defined in paragraph 3.2.1.1, provided that the Utility has: i. Notified the Developer of the breach; ii. Given the Developer a reasonable time to rectify the breach; and iii. The Developer has failed to rectify such breach within the time specified by the Utility; 3.2.2 The Developer may rectify a non-fundamental breach as identified in paragraph 3.2.1.2 of this Agreement by correcting the breach and complying with the terms and conditions of this Agreement or of any bylaw, policy, regulation, or order of the Board with which the Developer has failed to comply by: .1 Paying any additional costs and expenses incurred by the Utility caused directly or indirectly by the breach;

Cancellation, Breach and Redemption. 3.2.1 The Utility has shall have the right to cancel this Agreement at any time: .1 Before providing the Estimate to the Developer without liability to the Developer, if in the sole discretion of the Utility it is found that the Delivery System does not have the capacity to provide water service to the Development, and in the sole discretion of the Utility it is not feasible to expand the Delivery System to provide water service to the Development; .2 If the Developer commits a fundamental breach of the terms or conditions of this Agreement, or of any bylaw, policy, regulation, or order of the Board. A fundamental breach shall include, but not be limited to: i. Bankruptcy of the Developer or any of the principals of the Developer where it is apparent that the Developer may not be able to complete its obligations under this Agreement; ii. Assignment or transfer of this Agreement or of the Development to any third party without the prior written consent of the Utility; ; iii. Any change in the ownership of the Developer that has the effect of assignment or transfer of this Agreement to a third party, without the prior written consent of the Utility; iiiiv. Any action by the Developer that is contrary to the good faith relationship between the Developer and the Utility and is not capable of being remedied by the Developer; .2 .3 If the Developer commits any other breach of the terms and conditions of this Agreement, or of any bylaw, policy, regulation, or order of the Board, that is not a fundamental breach as defined in paragraph 3.2.1.13.2.1.2, provided that the Utility has: i. Notified the Developer of the breach; ii. Given the Developer a reasonable time to rectify the breach; and iii. The Developer has failed to rectify such breach within the time specified by the Utility; 3.2.2 The Developer may rectify a non-fundamental breach as identified in paragraph 3.2.1.2 3.2.1.3 of this Agreement by correcting the breach and complying with the terms and conditions of this Agreement Agreement, or of any bylaw, policy, regulation, or order of the Board Board, with which the Developer has failed to comply and by: .1 Paying any additional costs and expenses incurred by the Utility caused directly or indirectly by the breach;

Cancellation, Breach and Redemption. 3.2.1 The Utility has the right to cancel this Agreement at any time: .1 If the Developer commits a fundamental breach of the terms or conditions of this Agreement, or of any bylaw, policy, regulation, or order of the Board. A fundamental breach shall include, but not be limited to: i. Bankruptcy of the Developer or any of the principals of the Developer where it is apparent that the Developer may not be able to complete its obligations under this Agreement; ii. Assignment or transfer of this Agreement or of the Development to any third party without the prior written consent of the Utility; Any change in the ownership of the Developer that has the effect of assignment or transfer of this Agreement to a third party, without the prior written consent of the Utility; iii. Any action by the Developer that is contrary to the good faith relationship between the Developer and the Utility and is not capable of being remedied by the Developer; .2 If the Developer commits any other breach of the terms and conditions of this Agreement, or of any bylaw, policy, regulation, or order of the Board, that is not a fundamental breach as defined in paragraph 3.2.1.1, provided that the Utility has: i. Notified the Developer of the breach; ii. Given the Developer a reasonable time to rectify the breach; and iii. The Developer has failed to rectify such breach within the time specified by the Utility; 3.2.2 The Developer may rectify a non-fundamental breach as identified in paragraph 3.2.1.2 3.2.1.3 of this Agreement by correcting the breach and complying with the terms and conditions of this Agreement or of any bylaw, policy, regulation, or order of the Board with which the Developer has failed to comply by: .1 Paying any additional costs and expenses incurred by the Utility caused directly or indirectly by the breach;