Development Default. A Development Default shall occur, in which case the TIFIA Lender may (A) suspend the disbursement of TIFIA Loan proceeds under this Agreement and (B) pursue such other remedies as provided in this Section 20 (Events of Default and Remedies). If so requested by the TIFIA Lender in connection with a Development Default, the Borrower shall immediately repay any unexpended TIFIA Loan proceeds previously disbursed to the Borrower.
Development Default. A Development Default shall occur.
Development Default. A Development Default shall occur. If so requested by the XXXXX Xxxxxx in connection with a Development Default, the Borrower shall immediately repay any unexpended TIFIA Loan proceeds previously disbursed to the Borrower under this Agreement.
Development Default. A Development Default shall occur and such Development Default shall not be cured within thirty (30) days thereafter; provided that no Event of Default shall be deemed to have occurred and be continuing by reason of a Development Default pursuant to clause (a) of the definition thereof if, and for so long as, (A) within such thirty (30) day period, the Borrower demonstrates to the TIFIA Lender’s reasonable satisfaction (which demonstration shall include certification by the Engineer) that (1) CDOT is proceeding with the construction of each Segment of the Project with due diligence and will achieve Substantial Completion by the Projected Substantial Completion Date and (2) the Borrower has sufficient funds to pay all construction costs necessary to achieve Substantial Completion by the Projected Substantial Completion Date and (B) CDOT diligently pursues completion of each Segment of the Project and does achieve Substantial Completion on or prior to the Projected Substantial Completion Date; provided that the cure rights described in this sentence may be exercised only once. If a Development Default occurs and is not cured, to the extent provided in the preceding sentence, the TIFIA Lender may (A) suspend the disbursement of TIFIA Loan proceeds under this Agreement and (B) pursue such other remedies as provided in this Section 19. If so requested by the XXXXX Xxxxxx in connection with a Development Default, the Borrower shall immediately repay any unexpended TIFIA Loan proceeds previously disbursed to the Borrower.
Development Default. NTI hereby grants to Cadence a ------------------- nonexclusive, worldwide, fully paid and royalty-free, perpetual and irrevocable (except as provided below) license to use, reproduce, modify, and create Derivative Works from the Source Code Materials in order to (i) complete the development work described in the Statement of Work, (ii) correct Errors in the NTI Product Components, maintain the compatibility of the NTI Product Components with the Cadence Products and third party software used in conjunction with the NTI Product Components, and provide minor functionality enhancements to the NTI Product Components consistent with the enhancements being made to the Cadence Products, and (iii) use, reproduce, distribute, make, have made, offer for sale, import, sell, and support the NTI Product Components in object code form pursuant to the licenses granted to Cadence in Section 3.1. The object code derived from the source code so modified shall be deemed to be Developed Software and the parties' respective rights in such code will be as provided in Section 6. The license granted in this paragraph (a) shall survive termination of this Agreement in accordance with Section 14 if the escrow provisions were triggered prior to termination or expiration of this Agreement, but Cadence may not trigger the escrow provisions post-termination or expiration.
Development Default. Developer (1) fails to comply with Section 4 or Section 5 of this Agreement or (2) abandons the Project.
Development Default. A Development Default shall occur in respect of such Funded MCA Project. If so requested by the TIFIA Lender in connection with a Development Default in respect of such Funded MCA Project, the Borrower shall immediately repay any unexpended TIFIA Loan proceeds previously disbursed to the Borrower under the TIFIA Loan Agreement related to such Funded MCA Project;
Development Default. A Development Default shall occur, and such failure continues for a period of ninety (90) days.
Development Default. A Development Default shall occur, in which case the TIFIA Lender may (A) suspend the disbursement of TIFIA Loan proceeds under this Agreement, (B) terminate this Agreement and/or any commitment or agreement by the TIFIA Lender to make a TIFIA Loan in respect of the Project or the Dulles Toll Road and (C) pursue such other remedies as provided in this Section 20. If so requested in connection with a Development Default, the Borrower shall immediately repay any unexpended TIFIA Loan proceeds previously disbursed to the Borrower. For the purposes of this Section 20(a)(iii), the Borrower shall have the right to amend the Construction Schedule to extend the date for Substantial Completion for a period of up to sixty (60) days (unless a longer extension is required due to the occurrence of an Uncontrollable Force) within thirty (30) days of receipt of notice of an alleged Development Default; provided, that the Borrower shall provide the TIFIA Lender with a Recovery Plan, which Recovery Plan shall (1) be subject to the TIFIA Lender’s approval and (2) shall not extend the date for Substantial Completion by more than five percent (5%) of the time period (measured in days) between the Effective Date and the scheduled date for Substantial Completion reflected in the Base Case Financial Model.
Development Default. A Development Default shall occur. If so requested by the RRIF Lender in connection with a Development Default, the Borrower shall immediately repay any unexpended RRIF Loan proceeds previously disbursed to the Borrower under this Agreement.
