Default by the City. The City shall be in default under this Agreement if the City fails to keep or perform any covenant or obligation herein contained on the City's part to be kept or performed, and the City fails to remedy the same within thirty (30) days after Developer has given the City 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 the City within such period and diligently pursued until the default is corrected.
Default by the City. The City shall not be deemed to be in default in the performance of any obligation required to be performed by it hereunder unless and until it has failed to perform such obligation within 30 days after receipt of written notice by Tenant to the City specifying the nature of such default; provided, however, that if the nature of the City’s obligation is such that more than 30 days are required for its performance, then the City shall not be deemed to be in default if it shall commence its performance within such 30 day period and thereafter shall diligently prosecute the same to completion. If the City default occurs, Tenant may thereafter pursue any other remedy to which Xxxxxx is entitled at law or in equity.
Default by the City. Sublandlord does not assume any obligation to perform the provisions of the Prime Lease to be performed by the City. If the City fails to perform any of the provisions set forth in the Prime Lease to be performed by the City, Sublandlord shall be under no obligation or liability whatsoever to Subtenant. Sublandlord, however, shall cooperate with Subtenant, and will use all reasonable efforts to require performance by the City of the landlord obligations pursuant to the Prime Lease. Subtenant also shall have the right to take any action against the City in its own name and for that purpose, and only to such extent, Sublandlord hereby assigns to Subtenant such of the rights of Sublandlord under the Prime Lease as are necessary for such purpose. Subtenant shall be subrogated to such rights. If any such action against the City in Subtenant’s name is barred by reason of lack of privity, non-assignability or otherwise, Sublandlord shall permit Subtenant to take such action in Sublandlord’s name; provided, however, that Subtenant shall indemnify and hold Sublandlord harmless against all liability, loss or damage which Sublandlord may incur or suffer by reason of any such action, and that Subtenant will provide to Sublandlord copies of all papers and notices of all proceedings so Sublandlord may be kept informed in respect thereof. Sublandlord shall execute any documents reasonably required to 1595 1596 1597 1598 1599 1600 1601 1602 1603 1604 1605 1606 1607 1608 1609 1610 1611 1612 1613 1614 1615 1616 1617 1618 1619 1620 1621 1622 1623 1624 1625 1626 1627 1628 1629 1630 1631 1632 1633 permit Subtenant to take any such action in Sublandlord’s name. Subtenant shall not receive any abatement of rent under this Sublease because of the City’s failure to perform any of its obligations under the Prime Lease, except that if Sublandlord receives an abatement of rent from the City relating to the Spaces, Subtenant shall receive the benefit of such abatement of rent on a pro rata basis.
Default by the City. (i) The City shall be in default under this Contract if the City breaches a material provision of this Agreement, whether by action or inaction, and such breach continues and is not remedied within forty-five (45) days after the City receives written notice from Motivate specifying the breach; provided, however, in the case of a breach that cannot with due diligence be cured within a period of forty-five (45) days, the City shall not be in default hereunder if and so long as the City commences the cure within forty-five (45) days after the City receives written notice from Motivate and thereafter diligently prosecutes such cure to completion.
Default by the City. If an Event of Default or an Event of Nonappropriation under the Lease occurs for any reason, or if the City terminates the Lease and fails to purchase the Trustee’s interest in the Project Site as provided in the Lease, the Trustee, or its assignee, shall have the right to possession of the Project Site for the remainder of the Base Lease term and shall have the right to sublease the same or sell its interest in this Base Lease upon whatever terms and conditions it deems prudent. In the event the Trustee takes possession of the Project Site, the Trustee shall obtain, but solely to the extent of funds available to it for such use under the Indenture, the same insurance coverage with respect to the Project Site as the City is required to obtain under the Lease for the remainder of the Base Lease term and will furnish the City with evidence thereof. In the event that the Trustee shall receive a payment for the sale of its interest or total rental payments for subleasing that are, after the payment of the Trustee’s expenses in connection therewith including fees and expenses of the Trustee, in excess of the purchase price applicable at the time of termination or default plus interest thereon at the interest rate per annum borne by the Certificates (which must be an amount sufficient to pay the Principal Component, premium, if any, and Interest Component with respect to the Certificates, or to provide for the payment thereof as provided in Article XIII of the Indenture, with amounts so received to be credited first to such Interest Component and then to Principal Component), then such excess shall be paid to the City by the Trustee, its assigns or its sublessee.
Default by the City. In the event the City defaults under the terms of this Agreement, the Developer shall have all rights and remedies provided in this Section 11 of this Agreement, and as provided under Applicable Law.
Default by the City. If the City fails, after Closing, to comply with any or all of the obligations, covenants, warranties or agreements to be performed, honored or observed by the City under and pursuant to the terms and provisions of this Agreement, and such monetary default is not cured within thirty (30) days after notice of such non-monetary default is not cured within ninety (90) days after notice, then Columbia shall have the right to damages, specific performance or any other remedy legally available to Columbia. However, if the breach by the City is non-monetary and is of a nature that it cannot reasonably be remedied or corrected within such ninety (90) day period, then such ninety (90) day period shall be deemed to be extended for such additional period as may reasonably be required to remedy or correct the same if the City promptly commences to remedy the breach upon receipt of Columbia’s notice and continues therewith with due diligence.
Default by the City. (A) The occurrence of any failure by the City to perform any obligation under this Agreement where such event or failure shall continue for more than thirty (30) days after City’s receipt of a Default Notice is received by the City, and the City shall fail to provide a response to the Default Notice specifying the actions undertaken or to be undertaken to effect a cure within thirty (30) days after receipt of the Default Notice; or shall respond to the Default Notice but shall fail to effect the cure specified in such response shall be an Event of Default by the City (“City Default”) provided, however, that the City shall not be in default with respect to any matter referred to in a Default Notice which is susceptible of cure but cannot be reasonably cured within said thirty (30)-day period, so long as the City responds to the Default Notice and sets out a reasonable plan and schedule to effect a cure and thereafter makes reasonable efforts to complete the same in accordance with such schedule.
(B) Except as otherwise provided in this Agreement, if a City Default occurs, the Developer shall be entitled to pursue its rights and remedies pursuant to this Agreement or as may otherwise be available at law or in equity.
Default by the City. An event of default by the City shall be deemed to have occurred under this Agreement if the City fails to perform any obligation or fulfill any covenant or agreement of the City set forth in this Agreement and such failure shall continue for thirty (30) days following the City’s receipt of written notice of the non-performance; provided, however, the City shall not be in default of this Agreement:
(a) if the City provides Developer with a written response within said thirty (30) day period indicating the status of the City’s resolution of the breach and providing for a mutually agreeable schedule to correct same; or
(b) with respect to any breach that is capable of being cured but that cannot reasonably be cured within said thirty (30) day period, if the City commences to cure such breach within such thirty (30) day period (or as soon thereafter as is reasonably possible) and diligently continues to cure the breach until completion, but no longer than a total of one hundred twenty (120) days. If such an event of default by the City occurs hereunder, the Developer shall have all rights and remedies available to it under this Agreement, at law and/or equity, including an action for specific performance and injunctive relief to enforce the terms, covenants, conditions and other provisions of this Agreement against the City as a result of or arising out of such event of default. The Developer’s election of a right or remedy under this Agreement, at law and/or in equity, with respect to any event of default by the City shall not limit or otherwise affect the Developer’s right to elect any other right or remedy available to it under this Agreement, at law and/or in equity with respect to the same or any other event of default by the City. Notwithstanding anything to the contrary contained in this Agreement, in no event whatsoever shall the City be liable to Developer for any indirect, special, incidental, consequential, punitive, economic damages (including, without limitation, diminution of property value) lost profits or similar damages, whether or not foreseeable or advised of the possibility of the same, in connection with, arising from or as a result of any event of default by the City under this Agreement.
Default by the City. If the City defaults in the performance of any of its obligations under this Lease and does not cure the default within sixty (60) days after the date of a notice from the Company specifying the default, then the Company may enforce the performance of this Lease against the City, xxxxx payment of any Base Rent or Additional Rent as long as the default remains uncured, and act reasonably to cure the default on behalf of the City and setting off against future Base Rent or Additional Rent the reasonable costs incurred by the Company in effecting the cure; provided, however, the Company’'s sole source for recovery and City’'s sole obligation for any damages, if any, (other than the foregoing abatement and setoff rights) will be limited to the extent of lawfully available Excess Xxxxxx Revenues (subject to, without limitation, the pledge of such Xxxxxx Revenues to the repayment of the Bonds as set forth in the City ordinance authorizing the Bonds). In no instance shall the Company be entitled to nor have any claim against the City for recapture, return or repayment of any portion of the Prepaid Rent. The Company’'s remedies are cumulative and the Company’'s exercise of any specific remedy will not prevent the Company from exercising any other available remedy.
