Default by Redeveloper Sample Clauses

The 'Default by Redeveloper' clause defines the circumstances under which the redeveloper is considered to be in breach of their obligations under the agreement. Typically, this clause outlines specific actions or failures—such as missing deadlines, failing to meet construction standards, or not making required payments—that would constitute a default. It also often describes the process for notifying the redeveloper of the default and any opportunity to cure the breach. The core function of this clause is to protect the other party by clearly establishing what constitutes a default and the remedies available, thereby reducing uncertainty and providing a framework for addressing non-performance.
Default by Redeveloper. If title to the Township Properties does not close because of the Redeveloper’s Default, the Township shall be entitled to terminate this Agreement. Nothing in this Section shall be construed as limiting the ability of the Township to be reimbursed from the RDA Escrow Account for Township Costs incurred through the date of termination.
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Default by Redeveloper. A default of this Agreement shall occur if Redeveloper shall breach any of the material provisions of this Agreement or the PDC Loan, whether by action or inaction, and such breach shall continue and not be remedied within sixty (60) days after the Agency shall have given notice specifying the breach or in the case of a breach which cannot with due diligence be cured within a period of sixty (60) days, if Redeveloper shall not within such sixty (60) day period commence the cure of the breach and thereafter diligently prosecute to completion such cure within a reasonable time after the notice from the Agency. A default also shall occur if Redeveloper shall have made any assignment for the benefit of creditors, or shall have become adjudicated a bankrupt, or shall have had a receiver, trustee or creditor's committee appointed over it. Redeveloper shall not be deemed to be in default hereunder for failure to pay any tax, assessment, lien or other charge if Redeveloper in good faith is contesting the same and, if necessary to avoid foreclosure, has furnished an appropriate bond or other undertaking to assure payment in the event Redeveloper's contest is unsuccessful.
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Default by Redeveloper. (a) The following actions shall constitute events of default by the Redeveloper under the terms of this Parking Agreement: (i) if Redeveloper shall fail to make any payment of Parking Fees or any other charges or amounts due under this Parking Agreement, on the day when such payments are due and such default continues for fifteen (15) days after Redeveloper’s receipt of written notice that payment was not made when due; or (ii) if Redeveloper shall fail to perform any other provision, covenant or condition of this Parking Agreement other than the payment of Parking Fees or any other charges or amounts due, and such failure continues for sixty (60) days after Redeveloper is notified in writing by the City to cure such default; provided that if such failure cannot reasonably be cured within sixty (60) days, then, provided that Redeveloper commences to cure the default within such period and thereafter diligently continues to complete such cure, Redeveloper shall have a reasonable time to cure such default; or (iii) if Redeveloper makes an assignment for the benefit of creditors or enters into an agreement with its creditors, or if the interest of Redeveloper in the parking or any personal property used in connection therewith is attached, levied upon or seized by legal process, or if Redeveloper is found to be bankrupt or insolvent by any court of competent jurisdiction, or if a receiver is appointed for Redeveloper.
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Default by Redeveloper. The occurrence of any one or more of the following, beyond any applicable notice and cure period, shall constitute a “Redeveloper Default” as that term is used in this Agreement: A. Any transfer by the Redeveloper in violation of Section 13.2; B. If any warranty or representation of the Redeveloper contained in this Agreement is materially untrue as of the date made; C. The Redeveloper shall cease doing business as a going concern, make an assignment for the benefit of its creditors, admit in writing its inability to pay its debts as they become due, file a petition commencing a voluntary case under any chapter of the Bankruptcy Code, 11 U.S.C. § 101 et seq. (the "Bankruptcy Code"), file a petition seeking for itself any reorganization, composition, readjustment, liquidation, dissolution or similar arrangement under the Bankruptcy Code or any other present or future law or regulation; or files an answer admitting the material allegations of a petition filed against it in any such proceeding, consents to the filing of such a petition or acquiesces in the appointment of a trustee, receiver, custodian or other similar official for the Redeveloper or of all or substantially all of the Developer's assets or properties, or institutes any proceeding for the dissolution or liquidation of the Developer; a case, proceeding or other action shall be instituted against the Developer, seeking the entry of an order for relief against the Developer, to adjudicate the Developer as a bankrupt or insolvent, or seeking reorganization, arrangement, readjustment, liquidation, dissolution or similar relief against the Developer under the Bankruptcy Code or other present or future rule or regulation, which case, proceeding or other action either results in the entry or issuance of any other order or judgment having a similar effect or remains undismissed for sixty (60) days, or within sixty (60) days after the appointment, without the Developer's consent or acquiescence, of any trustee, receiver, custodian or other similar official for Developer or for all or any substantial part of the Developer's assets and properties, such appointment shall not be vacated; or D. The failure, on or before the applicable deadline therefor set forth in this Agreement with respect thereto, to commence or complete (as evidenced by a Certificate of Completion) any Improvement required to be completed by the Redeveloper under the terms of this Agreement, and the failure to cure such default within th...
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Related to Default by Redeveloper

  • DEFAULT BY RESIDENT Resident (and Resident’s guests if applicable) agrees to abide by all federal, state and municipal laws, ordinances, regulations or orders (including, but not limited to, those pertaining to use of hazardous substances) as well as Owner’s Rules and Regulations now in effect or which may be hereafter be enacted. Resident will be in default if: (1) Resident fails to pay any Rent Installment or Additional Rent, as and when due hereunder; (2) Resident abandons the Premises; (3) Resident fails to perform any of his or her obligations hereunder; (4) Any information contained in Resident's Lease Contract Application is untrue or misleading; (5) Resident or Resident’s guest(s) violates this Lease Contract, Rules and Regulations, or fire, safety, health, or criminal laws, regardless of whether or where arrest or conviction occurs; (6) Illegal drugs or paraphernalia are found in the Premises, whether or not Owner can establish possession (medical marijuana prescriptions shall constitute illegal drugs as a controlled substance pursuant to federal and state law); (7) Resident, in bad faith, makes an invalid habitability complaint to an official or employee of a utility company or the government; (8) Resident is arrested, charged, detained, convicted, or given deferred adjudication or pretrial diversion for a felony offense or a misdemeanor if the crime is of a sexual or violent nature; (9) Resident displays, discharges, or possesses a gun, knife (of certain dimension), or other weapon (or uses an ordinary object as a weapon), including, but not limited to, any pistol, revolver, rifle, shotgun, or other weapon designed or intended to propel a missile of any kind, throwing stars, nun chucks, and similar objects. WEAPONS ARE NOT PERMITTED ANYWHERE IN THE COMMUNITY, INCLUDING YOUR UNIT. Owner does not guarantee a firearms-free environment.

  • Default by Developer Developer shall be in default under this Agreement (a) Developer fails to make any of the payments of money required by the terms of this Agreement, and Developer fails to cure or remedy the same within ten (10) days after the City has given Developer written notice specifying such default; or (b) Developer fails to keep or perform any covenant or obligation herein contained on Developer's part to be kept or performed, and Developer fails to remedy the same within thirty (30) days after the City has given Developer written notice specifying such failure and requesting that it be remedied; provided, however, that if any event of default shall be such that it cannot be corrected within such period, it shall not constitute an event of default if corrective action is instituted by Developer within such period and diligently pursued until the default is corrected; or (c) Without limiting the generality of the foregoing, Developer shall assign or transfer the Project and/or this Agreement in violation of the terms and conditions set forth in Article V; or (d) Developer shall file a voluntary petition under any bankruptcy law or an involuntary petition under any bankruptcy law is filed against any such party in a court having jurisdiction and said petition is not dismissed within thirty (30) days or Developer, makes an assignment for the benefit of its creditors; or a custodian, trustee or receiver is appointed or retained to take charge of and manage any substantial part of the assets of Developer and such appointment is not dismissed within sixty (60) days; or any execution or attachment shall issue against Developer whereupon the District, or any part thereof, or any interest therein of Developer under this Agreement shall be taken and the same is not released prior to judicial sale thereunder (each of the events described in this subsection being deemed a default under the provisions of this Agreement); or (e) Developer breaches the representations and warranties set forth in this Agreement and fails to cure or correct same within thirty (30) days of notice from the City.

  • Default by Lessee The following events shall be deemed to be events of default by Lessee under this Agreement (each such event of default is hereinafter referred to as an "Event of Default"): A. Lessee shall fail to timely pay any monthly rental payment as referenced in paragraph 3 above or any other sum of money due hereunder and such failure shall continue for a period of ten days; B. Lessee shall fail to comply with any provision of this Agreement not requiring the payment of money, all of which provisions shall be deemed material, and such failure shall continue for a period of twenty days after written notice of such default is delivered to Lessee; C. Lessee shall become insolvent or fail to pay its debts as they become due or Lessee notifies Lessor that it anticipates either condition; D. Lessee takes any action to file a petition under any section or chapter of the United States Bankruptcy Code or under any similar law or statute of the United States or any state thereof or a petition shall be filed against Lessee under any such statute or Lessee or may creditor of Lessee notifies Lessor that it knows such a petition will be filed or Lessee notifies Lessor that it expects such a petition to be filed; or E. A receiver or trustee shall be appointed for Lessee's leasehold interest in the Premises or for all or a substantial part of Lessee's assets. Upon the occurrence of an Event of Default, Lessor may at its option and without further notice to Lessee, and in addition to all other remedies given hereunder or by law or in equity, do any one or more of the following: (A) terminate this Agreement, in which event Lessee shall immediately surrender possession of the Premises to Lessor; (B) enter upon the Premises and expel or remove Lessee and/or Lessee's Equipment therefrom, with or without having terminated this Agreement; and (C) change or re-key all locks to entrances to the Site and Lessor shall have no obligation to give Lessee notice thereof or to provide Lessee with a new key to the Site. The exercise by Lessor of any one or more remedies hereunder shall not constitute an acceptance of the surrender of the Premises by Lessee. Lessee acknowledges that a surrender of the Premises can be effected only by a written agreement between Lessor and Lessee. If Lessor terminates this Agreement by reason of an Event of Default, Lessee shall pay to Lessor the sum of (A) the cost of recovering the Premises; (B) the unpaid monthly payments and all other indebtedness accrued hereunder to the term of such termination; (C) to the extent the same were not paid, the cost of repairing, altering or otherwise putting the Premises into a condition acceptable to a new tenant or tenants (if Lessor elects to so relet) (collectively, the "Reletting Expenses"); (D) all expenses incurred by Lesser in enforcing Lessor's remedies, including attorneys' fees and court costs; (B) the total monthly payments and other benefits which Lessor would have received under this Agreement for the remainder of the term, minus any net sums thereafter received by Lessor through reletting the Premises during such period; and (F) any other damages or relief which Lessor may be entitled to at law or in equity. Lessee shall not be entitled to any excess rent obtained by Lessor reletting the Premises. If Lessor repossesses the Premises without terminating this Agreement by reason of an Event of Default, then Lessee shall pay to Lessor the sum of (A) the cost of recovering the Premises; (B) the unpaid monthly payments and all other indebtedness accrued hereunder to the date of such repossession; (C) the Reletting Expenses; (D) all expenses incurred by Lessor in enforcing Lessor's remedies, including attorneys' fees and court costs; (B) the total monthly payments and other benefits which Lessor would have received under this Agreement for the remainder of the term, minus any net sums thereafter received by Lessor through reletting the Premises during such period; and (F) any other damages or relief which Lessor may be entitled to at law or in equity. Re-entry by Lessor will not affect the obligations of Lessee for the unexpired term of this Agreement. Lessee shall not be entitled to any excess rent obtained by Lessor reletting the Premises, Actions to collect amounts due by Lessee may be brought on one or more occasions without the necessity of Lesson's waiting until the expiration of the term of this Agreement. Upon termination of this Agreement or repossession of the Premises due to an Event of Default, Lessor shall not be obligated to relet or attempt to relet the Premises or any portion thereof or to collect rent after reletting, but Lessor shall have the option to relet the whole or any portion of the Premises for any period to any tenant and for any use and purpose.

  • Default by Lessor Lessor shall not be in default unless Lessor fails to perform obligations required of Lessor within a reasonable time, but in no event later than thirty (30) days after written notice by Lessee to Lessor and to the holder of any first mortgage or deed of trust covering the Premises whose name and address shall have theretofore been furnished to Lessee in writing, specifying wherein Lessor has failed to perform such obligation; provided, however, that if the nature of Lessor's obligation is such that more than thirty (30) days are required for performance then Lessor shall not be in default if Lessor commences performance within such 30-day period and thereafter diligently prosecutes the same to completion.