CESSATION OF ADVANCES. If the EDC has made any commitment to provide any financial assistance to Developer, whether under this Agreement or under any other agreement, the EDC shall have no obligation to advance or disburse the financial assistance if: (i) Developer becomes insolvent, files a petition in bankruptcy or similar proceedings, or is adjudged bankrupt; or (ii) an Event of Default occurs.
Appears in 6 contracts
Samples: Performance Agreement, Performance Agreement, Performance Agreement
CESSATION OF ADVANCES. If the EDC has made any commitment to provide any financial economic development assistance to Developer, whether under this Agreement or under any other agreement, the EDC shall have no obligation to advance or disburse the financial provide said economic development assistance if: (i) Developer becomes insolvent, files a petition in bankruptcy or similar proceedings, or is adjudged bankrupt; or (ii) an Event of Default occurs.
Appears in 1 contract
Samples: Performance Agreement
