Developer Rights Upon Termination for Default Clause Samples

Developer Rights Upon Termination for Default. In the event that Developer is the Non- Defaulting Party and elects to terminate this Agreement as provided in Section 8.2, Developer shall remove the System and restore the Property as provided in Section 3.7 and, require Town to pay the Termination Payment with Removal Costs to Developer to be paid as provided in Section 8.5. Such express remedy and any associated measure of damages shall be the sole and exclusive remedy available to Developer as a result of termination of this Agreement subject, however, to Section 8.8. Town’s liability shall be limited as set forth in such provision and all other remedies or damages at law or in equity are waived by Developer.

Developer Rights Upon Termination for Default. In the event that Developer is the Non- Defaulting Party and elects to terminate this Agreement as provided in Section 9, Buyer shall pay Developer the Termination Payment as liquidated damages as provided in Attachment D excluding instances of Force Majeure or Changes in Law as outlined above. In the event that Developer elects the foregoing remedy, such express remedy and any associated measure of damages shall be the sole and exclusive remedy available to Developer as a result of termination of this Agreement subject, however, to subsection (g) below. In the event Developer terminates this Agreement pursuant to this Section 9(c), unless the Lease is terminated due to an Event of Default under the Lease then following such termination, the Lease shall remain in full force and effect and Developer shall take commercially reasonable efforts to find an alternate off-taker or purchaser of ANEM credits, acceptable to Developer and its financing parties, if applicable, in their sole discretion, to mitigate its damages as the result of an Event of Default and the Termination Payment shall be reduced accordingly to account for such mitigation. In the event the Lease is terminated due to a Landlord Event of Default under the Lease, the Landlord shall pay the termination payment as set forth in the Lease in lieu of any Termination Payment hereunder.