Common use of Developer Default Clause in Contracts

Developer Default. The failure to achieve Financial Close by the Financial Close Deadline, unless such failure is directly attributable to an Excuse from Closing, shall be considered a Developer Default (for which TxDOT may give notice and seek liquidated damage and termination remedies under Section 29.5.6 and terminate this Agreement under Section 31.3.1).

Developer Default. The failure to achieve Financial Close by the Financial Close Project Financing Deadline, unless such failure is directly attributable to an Excuse from Closingany of the circumstances described in Section 3.4.2, shall be considered a Developer Default (for which TxDOT may give notice and seek liquidated damage and termination remedies under Section 29.5.6 and terminate this Agreement under Section 31.3.1).

Developer Default. The failure to achieve Financial Close by the Financial Close Project Financing Deadline, unless such failure is directly attributable to an Excuse from Closingany of the circumstances described in Section 3.4.2, shall be considered a Developer Default (for which TxDOT may give notice and seek liquidated damage and termination remedies under Section 29.5.6 and terminate this Agreement under Section 31.3.129.5.6).