Early Termination Due to Default. A. As provided in Section 7.5, this Agreement may be terminated by reason of the default of a party. B. If this Agreement is early terminated by City or Agency because of default of the Developer, the Xxxxxxx Money shall not be returned to Developer. If this Agreement is terminated by Developer due to the default of Agency or City before escrow closes on the sale of the Project Property, the Xxxxxxx Money shall be returned to Developer. In either event, all of the obligations and remedies set forth below apply.
Appears in 3 contracts
Samples: Disposition and Development Agreement, Disposition and Development Agreement, Disposition and Development Agreement
Early Termination Due to Default. A. As provided in Section 7.5, this Agreement may be terminated by reason of the default of a party.
B. If this Agreement is early terminated by City or Agency because of due to default of the Developer, the Xxxxxxx Money shall not be returned to Developer. If this Agreement is terminated by Developer due to the default of Agency or City before escrow closes on the sale of the Project Property, the Xxxxxxx Money shall be returned to Developer. In either event, all of the obligations and remedies set forth below apply.
Appears in 1 contract
