Condominium and Retail Development Sample Clauses

Condominium and Retail Development. As a condition to the City's obligations hereunder, Hardball, or a related entity, shall fully satisfy all of its and/or their obligations under the Condominium/Retail Economic Development Agreement. Full compliance with such Agreement is a material condition to the City's obligations hereunder. In the event of a breach of such Agreement by Hardball and/or its affiliate, the City shall, after written notice and thirty (30) day right to cure such breach, have the right to terminate its obligations under this Agreement and retain all rights to receive and retain the Hardball Contribution. Hardball's right to cure such breach may be extended for an additional period not to exceed sixty (60) days provided Hardball is proceeding in good faith to cure the breach and it is not feasible that the breach may be cured in the thirty (30) day period (the thirty (30) day and sixty (60) day cure periods referenced above shall collectively be referred to herein as the "Initial Cure Period"). Additionally, Hardball's right to cure a breach pursuant to this Section may be further extended for an additional period beyond the Initial Cure Period of not to exceed ninety (90) days provided (i) Hardball is proceeding in good faith to cure the breach; (ii) it is not feasible that the breach may be cured in the Initial Cure Period; and (iii) Hardball pays the City as liquidated damages a fee of Five Thousand Dollars ($5,000) per day until the breach has been fully cured.
Sample 1
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Related to Condominium and Retail Development

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