Common use of Enforced Delay; Extension of Times of Performance Clause in Contracts

Enforced Delay; Extension of Times of Performance. In addition to specific provisions of this Agreement, performance by either party hereunder shall not be deemed to be in Default, and all performance and other dates specified in this Agreement shall be extended, where delays or Defaults are due to: war; insurrection; acts of terrorism; strikes; lockouts; riots; floods; earthquakes; fires; casualties; acts of God; acts of the public enemy; epidemics; quarantine restrictions; freight embargoes; lack of transportation; governmental restrictions or priority; litigation; adverse weather conditions; inability to secure necessary labor, materials or tools; delays of any contractor, subcontractor or supplier; acts or omissions of the other party; or acts or failures to act of the City, Responsible Agency or any other public or governmental agency or entity (except that the acts or failures to act or delay of the Successor Agency or City shall not excuse performance by the City). Notwithstanding anything to the contrary in this Agreement, an extension of time for any such cause shall be for the period of the enforced delay and shall commence to run from the time of the commencement of the cause, if notice by the party claiming such extension is sent to the other party within thirty (30) days of the commencement of the cause. Times of performance under this Agreement may also be extended in writing by the mutual agreement of the Director and Developer. Notwithstanding any provision of this Agreement to the contrary, the lack of funding to complete any Component, shall not constitute grounds of enforced delay pursuant to this Section 602. 603. Transfers of Interest in the Site or Agreement.

Appears in 2 contracts

Samples: Disposition and Development Agreement, Disposition and Development Agreement

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Enforced Delay; Extension of Times of Performance. In addition to specific provisions of this Agreement, performance by either party hereunder shall not be deemed to be in Default, and all performance and other dates specified in this Agreement shall be extended, where delays or Defaults are due to: war; insurrection; acts of terrorism; strikes; lockouts; riots; floods; earthquakes; fires; casualties; acts of God; acts of the public enemy; epidemics; pandemics; quarantine restrictions; freight embargoes; lack of transportation; governmental restrictions or priority; litigation; adverse weather conditions; inability to secure necessary labor, materials or tools; delays of any contractor, subcontractor or suppliersupplier or other unforeseen construction delays; acts or omissions of the other party; or acts or failures to act of the City, Responsible Agency or any other public or governmental agency or entity (except that the acts or failures to act or delay of the Successor Agency or City shall not excuse performance by the City); or an Adverse Market Condition. Notwithstanding anything to the contrary in this Agreement, an extension of time for any such cause shall be for the period of the enforced delay and shall commence to run from the time of the commencement of the cause, if notice by the party claiming such extension is sent to the other party within thirty (30) days of the commencement of the cause. Times of performance under this Agreement may also be extended in writing by the mutual agreement of the Director and Developer. Notwithstanding any provision of this Agreement to the contrary, the lack of funding to complete any Component, the Project shall not constitute grounds of enforced delay pursuant to this Section 602. 603. Transfers of Interest in the Site or Agreement.

Appears in 2 contracts

Samples: Disposition and Development Agreement, Disposition and Development Agreement

Enforced Delay; Extension of Times of Performance. In addition to specific provisions of this Agreement, performance by either party hereunder shall not be deemed to be in Defaultdefault, and all performance and other dates specified in this Agreement shall be extended, where delays or Defaults defaults are due to: war; insurrection; acts of terrorism; strikes; lockouts; riots; floods; earthquakes; fires; casualties; acts of God; acts of the public enemy; epidemics; quarantine restrictions; freight embargoes; lack of transportation; governmental restrictions or priority; litigation; adverse weather conditionslitigation unusually severe weather; inability to secure necessary labor, materials or tools; delays of any contractor, subcontractor or supplier; acts or omissions of the other party; or acts or failures failure to act of the City, Responsible Agency City or any other public or governmental agency or entity (except that other than the acts or failures to act or delay of the Successor Agency or City which shall not excuse performance by the CityAgency); or any other causes beyond the control or without the fault of the party claiming an extension of time to perform. Notwithstanding anything to the contrary in this Agreement, an extension of time for any such cause shall be for the period of the enforced forced delay and shall commence to run from the time of the commencement of the cause, if notice by the party claiming such extension is sent to the other party within thirty (30) days of the commencement of the cause. Times of performance under this Agreement may also be extended in writing by the mutual agreement of the Director Agency and Developer. Notwithstanding any provision of this Agreement to the contrary, the lack of funding to complete any Component, shall The Developer is not constitute grounds of enforced delay entitled pursuant to this Section 602. 603. Transfers 5.03 to an extension of Interest time to perform because of past, present, or future difficulty in obtaining suitable temporary or permanent financing for the Site or Agreementdevelopment of the Site.

Appears in 1 contract

Samples: Disposition and Development Agreement (Rexhall Industries Inc)

Enforced Delay; Extension of Times of Performance. In addition to specific provisions of this Agreement, performance by either party hereunder shall not be deemed to be in Default, and all performance and other dates specified in this Agreement shall be extended, where delays or Defaults are due toto events beyond the reasonable control of the parties, including without limitation the following: war; insurrection; acts of terrorism; strikes; lockouts; riots; floods; earthquakes; fires; casualties; acts of God; acts of the public enemy; epidemics; quarantine restrictions; freight embargoes; lack of transportation; governmental restrictions or priority; litigation; adverse weather conditions; inability to secure necessary labor, materials or tools; delays of any contractor, subcontractor or supplierunusually severe weather; acts or omissions of the other party; or acts or failures to act of the City, Responsible Agency City or any other public or governmental agency or entity (except that other than the acts or failures to act or delay of the Successor Agency or the City which shall not excuse performance by the CityAgency). Notwithstanding anything to the contrary in this Agreement, an extension of time for any such cause shall be for the period of the enforced delay and shall commence to run from the time of the commencement of the cause, if notice by the party claiming such extension is sent to the other party within thirty (30) days of the commencement of the cause. Times of performance under this Agreement may also be extended in writing by the mutual agreement of the Director Agency and Developer. Notwithstanding any provision of this Agreement to the contrary, the lack of funding to complete any Component, the Developer Improvements shall not constitute grounds of enforced delay pursuant to this Section 602. 603. Transfers of Interest in the Site or Agreement.

Appears in 1 contract

Samples: Disposition and Development Agreement

Enforced Delay; Extension of Times of Performance. In addition to specific provisions of this Agreement, performance by either party hereunder shall cannot be deemed to be in Default, and all performance and other dates specified in this Agreement shall be is extended, where delays or Defaults are due toto events which are outside of the reasonable control of the party claiming an extension, which may include, without limitation: war; terrorist acts; insurrection; acts of terrorism; strikes; lockouts; riots; floods; earthquakesearthquakes exceeding 3.8 on the Xxxxxxx scale; fires; casualties; acts of God; acts of the public enemy; epidemics; quarantine restrictions; freight embargoes; lack of transportation; governmental restrictions or priority; litigation; adverse weather conditionsunusually severe weather; inability to secure necessary labor, materials or tools; delays of any contractor, subcontractor or suppliersupplier beyond Developer’s control; acts or omissions of the other party; or acts or failures to act of the City, Responsible Agency City or any other public or governmental agency City or entity (except that other than the acts or failures to act or delay of the Successor Agency or City shall which cannot excuse performance by the City); or any other causes beyond the control or without the fault of the party claiming an extension of time to perform, excluding, specifically, general economic conditions or economic downturn. Notwithstanding anything to the contrary in this Agreement, an extension of time for any such cause shall be is for the period of the enforced delay and shall must commence to run from the time of the commencement of the cause, if notice by the party claiming such extension is sent to the other party within thirty (30) days of the commencement of the cause. Times of performance under this Agreement may also be extended in writing by the mutual agreement of the Director City and Developer. Notwithstanding any provision of this Agreement to the contrary, the lack of funding to complete any Component, shall the Improvements cannot constitute grounds of enforced delay pursuant to this Section 602. 603. Transfers of Interest in the Site or Agreement.

Appears in 1 contract

Samples: Development Agreement

Enforced Delay; Extension of Times of Performance. In addition to specific provisions of this Agreement, performance by either party Party hereunder shall not be deemed to be in Defaultdefault, and all performance and other dates specified in this Agreement Agreement, including in the Schedule of Performance, shall be extended, where delays or Defaults defaults are due to: war; insurrection; acts of terrorism; strikes; lockouts; riots; floods; earthquakes; fires; casualties; acts of God; acts of the public enemy; epidemics; quarantine restrictions; freight embargoes; lack of transportation; governmental restrictions or priority; litigation; adverse weather conditionsunusually severe weather; inability to secure necessary labor, materials or tools; delays of any contractor, ; subcontractor or supplier; acts or omissions of the other party; or acts or failures to act of the City, Responsible Agency or any other public causes beyond the control or governmental agency or entity (except that without the acts or failures to act or delay default of the Successor Agency or City shall not excuse performance by the City)Party claiming an extension of time to perform. Notwithstanding anything to the contrary in this Agreement, an extension of time for any such cause shall be for the period of the enforced delay and shall commence to run from the time of the commencement of the cause, if notice by the party Party claiming such extension is sent to the other party Party within thirty (30) days of after the commencement of the cause. Times of performance under this Agreement Agreement, including in the Schedule of Performance, may also be extended in writing by the mutual agreement of the Director City and Developer. The Community Development Director shall also have the authority on behalf of City to administratively approve extensions of time not to exceed a cumulative total of six (6) months. Notwithstanding any provision the foregoing portion of this Agreement to the contrarySection 6.4, the lack of funding to complete any Component, shall Developer is not constitute grounds of enforced delay entitled pursuant to this Section 602. 603. Transfers 6.4 to an extension of Interest time to perform because of past, present, or future difficulty in obtaining suitable construction financing for the Site development of the Site, or Agreementbecause of economic or market conditions.

Appears in 1 contract

Samples: Affordable Housing Agreement

Enforced Delay; Extension of Times of Performance. In addition to specific provisions of this Reimbursement Agreement, performance by either party Party hereunder shall not be deemed to be in Default, and all performance and other dates specified in this Reimbursement Agreement shall be extended, where delays or Defaults are due to: war; insurrection; acts of terrorism; strikes; lockouts; riots; floods; earthquakes; fires; casualties; acts of God; acts of the public enemy; epidemics; quarantine quarantine; restrictions; freight embargoes; lack of transportation; governmental restrictions or priority; litigation; adverse weather conditionsunusually severe weather; inability to secure necessary labor, materials or tools; delays of any contractor, subcontractor or supplier; acts or omissions of the other partyParty; or acts or failures to act of the City, Responsible Agency City or any other public or governmental agency or entity (except that other than the acts or failures to act or delay of the Successor Agency or City which shall not excuse performance by the City); or any other causes beyond the control or without the fault of the party claiming an extension of time to perform. Notwithstanding anything to the contrary in this Reimbursement Agreement, an extension of time for any such cause shall be for the period of the enforced delay and shall commence to run from the time of the commencement of the cause, if notice by the party Party claiming such extension is sent to the other party within thirty (30) days of the commencement of the cause. Times of performance under this Reimbursement Agreement may also be extended in writing by the mutual agreement of the Director City and Developer. Notwithstanding any provision of this Reimbursement Agreement to the contrary, the lack of funding to complete any Component, the Remedial Improvements shall not constitute grounds of enforced delay pursuant to this Section 602. 603. Transfers of Interest in the Site or AgreementSection.

Appears in 1 contract

Samples: Disposition and Development Agreement

Enforced Delay; Extension of Times of Performance. In addition to specific provisions of this Agreement, performance by either party Party hereunder shall not be deemed to be in Default, and all performance and other dates specified in this Agreement shall be extended, where delays or Defaults are due to: war; insurrection; acts of terrorism; strikes; lockouts; riots; floods; earthquakes; fires; casualties; acts of God; acts of the public enemy; epidemics; quarantine restrictions; freight embargoes; lack of transportation; governmental restrictions or priority; litigation; adverse weather conditions; inability to secure necessary labor, materials or tools; delays of any contractor, subcontractor or supplier; acts or omissions of the other partyParty; or acts or failures to act of the Agency, City, Responsible Regulatory Agency or any other public or governmental agency or entity (except that the acts or failures to act or delay of the Successor Agency or City shall not excuse performance by the CityAgency). Notwithstanding anything to the contrary in this Agreement, an extension of time for any such cause shall be for the period of the enforced delay and shall commence to run from the time of the commencement of the cause, if notice by the party Party claiming such extension is sent to the other party Party within thirty (30) days of the commencement of the cause. Times of performance under this Agreement may also be extended in writing by the mutual agreement of the Agency Executive Director and DeveloperParticipant. Notwithstanding any provision of this Agreement to the contrary, the lack of funding to complete any Component, the Participant Improvements shall not constitute grounds of enforced delay pursuant to this Section 602. 603703. Transfers of Interest in the Site Participant Property or Agreement.

Appears in 1 contract

Samples: Owner Participation Agreement

Enforced Delay; Extension of Times of Performance. In addition to specific provisions of this Agreement, performance by either party hereunder shall not be deemed to be in Default, and all performance and other dates specified in this Agreement shall be extended, where delays or Defaults are due toto causes beyond the control or without the fault of the party claiming an extension of time to perform, which may include the following: war; insurrection; acts of terrorism; strikes; lockouts; riots; floods; earthquakes; fires; casualties; acts of God; acts of the public enemy; epidemics; quarantine restrictions; freight embargoes; lack of transportation; governmental restrictions or priority; litigation; adverse weather conditionsunusually severe weather; inability to secure necessary labor, materials or tools; delays of any contractor, subcontractor or supplier; acts or omissions of the other party; or acts or failures to act of the City, Responsible Agency City (not otherwise authorized by this Agreement) or any other public or governmental agency or entity (except that other than the acts or failures to act or delay of the Successor Agency or City (not otherwise authorized by this Agreement) which shall not excuse performance by the City). Notwithstanding anything to the contrary in this Agreement, an extension of time for any such cause shall be for the period of the enforced delay and shall commence to run from the time of the commencement of the cause, if notice by the party claiming such extension is sent to the other party within thirty (30) days of from the commencement of the cause. Times of performance under this Agreement may also be extended in writing by the mutual agreement of the Director City and DeveloperJ Star. Notwithstanding any provision of this Agreement to the contrary, the lack of funding to commence and/or complete any Component, the Improvements and/or operate the Dealerships shall not constitute grounds of enforced delay pursuant to this Section 602. 603. Transfers of Interest in the Site or Agreement5.

Appears in 1 contract

Samples: Agreement Re Development and Operating Covenants

Enforced Delay; Extension of Times of Performance. In addition Subject to specific provisions of this Agreementthe limitations set forth below, performance by either party hereunder shall not be deemed to be in Default, and all performance and other dates specified in this Agreement shall be extended, where delays or Defaults are due to: war; insurrection; acts of terrorism; strikesstrikes and labor disputes; lockouts; riots; floods; earthquakes; fires; casualties; acts of God; acts of the public enemy; epidemics; quarantine restrictions; freight embargoes; lack of transportation; governmental restrictions or priority; litigationlitigation and arbitration, including court delays; adverse weather conditionslegal challenges to this Agreement, the Project Documents, the Project Entitlements, the Environmental Impact Report, or any other approval required for the Project or any initiatives or referenda regarding the same; inability to secure necessary labor, materials or tools; delays of any contractor, subcontractor or supplierunusually severe weather; acts or omissions of the other party; or acts or failures to act of the City, Responsible Agency or any other public or governmental agency or entity (except that other than the acts or failures to act or delay of the Successor Agency or City which shall not excuse performance by the City) (each a “Force Majeure Delay”). Notwithstanding anything to the contrary in this Agreement, an An extension of time for any such cause shall be for the period of the enforced delay and shall commence to run from the time of the commencement of the cause, if notice Notice by the party claiming such extension is sent to the other party within thirty sixty (3060) days of the commencement of the cause. Times of performance under this Agreement may also be extended in writing by the mutual agreement of the Director City and Developer. Notwithstanding any provision Developer expressly agrees that adverse changes in economic conditions, either of this Agreement Developer specifically or the economy generally, changes in market conditions or demand, and/or Developer’s inability to the contrary, the obtain financing or other lack of funding to complete any Component, the work of the Project shall not constitute grounds of enforced delay pursuant to this Section 6027.2. 603. Transfers Developer expressly assumes the risk of Interest in such adverse economic or market changes and/or financial inability, whether or not foreseeable as of the Site or Agreement.Date of Agreement.‌

Appears in 1 contract

Samples: Disposition and Development Agreement

Enforced Delay; Extension of Times of Performance. In addition to specific provisions of this Agreement, performance by either party hereunder shall not be deemed to be in Default, and all performance and other dates specified in this Agreement shall be extended, where delays or Defaults are due to: war; insurrection; acts of terrorism; strikes; lockouts; riots; floods; earthquakes; fires; casualties; acts of God; acts of the public enemy; epidemics; quarantine restrictions; freight embargoes; lack of transportation; governmental restrictions or priority; litigation; adverse weather conditions; inability to secure necessary labor, materials or tools; delays of any contractor, subcontractor or supplier; acts or omissions of the other party; or acts or failures to act of the Agency, City, Responsible Agency or any other public or governmental agency or entity (except that the acts or failures to act or delay of the Successor Agency or City shall not excuse performance by the CityAgency). Notwithstanding anything to the contrary in this Agreement, an extension of time for any such cause shall be for the period of the enforced delay and shall commence to run from the time of the commencement of the cause, if notice by the party claiming such extension is sent to the other party within thirty (30) days of the commencement of the cause. Times of performance under this Agreement may also be extended in writing by the mutual agreement of the Agency Executive Director and Developer. Notwithstanding any provision of this Agreement to the contrary, the lack of funding to complete any Component, the Developer Improvements shall not constitute grounds of enforced delay pursuant to this Section 602. 602.‌ 603. Transfers of Interest in the Site or Agreement.

Appears in 1 contract

Samples: Disposition and Development Agreement

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Enforced Delay; Extension of Times of Performance. In addition to specific provisions of this Agreement, performance by either party hereunder shall not be deemed to be in Default, and all performance and other dates specified in this Agreement shall be extended, where delays or Defaults are due to: war; insurrection; acts of terrorism; strikes; lockouts; riots; floods; earthquakes; fires; casualties; acts of God; acts of the public enemy; epidemics; quarantine restrictions; freight embargoes; lack of transportation; governmental restrictions or priority; litigation; adverse weather conditions; inability to secure necessary labor, materials or tools; delays of any contractor, subcontractor or supplier; acts or omissions of the other party; or acts or failures to act of the City, Responsible Agency or any other public or governmental agency or entity (except that the acts or failures to act or delay of the Successor Agency or City shall not excuse performance by the City). Notwithstanding anything to the contrary in this Agreement, an extension of time for any such cause shall be for the period of the enforced delay and shall commence to run from the time of the commencement of the cause, if notice by the party claiming such extension is sent to the other party within thirty (30) days of the commencement of the cause. Times of performance under this Agreement may also be extended in writing by the mutual agreement of the Director and Developer. Notwithstanding any provision of this Agreement to the contrary, the lack of funding to complete any Component, the Improvements shall not constitute grounds of enforced delay pursuant to this Section 602. 603. Transfers of Interest in the Site or Agreement.

Appears in 1 contract

Samples: Disposition and Development Agreement

Enforced Delay; Extension of Times of Performance. In addition to specific provisions of this Regulatory Agreement, performance by either party Party hereunder shall not be deemed to be in Default, and all performance and other dates specified in this Regulatory Agreement shall be extended, where delays or Defaults are due to: war; insurrection; acts of terrorism; strikes; lockouts; riots; floods; earthquakes; fires; casualties; acts of God; acts of the public enemy; epidemics; quarantine quarantine; restrictions; freight embargoes; lack of transportation; governmental restrictions or priority; litigation; adverse weather conditionsunusually severe weather; inability to secure necessary labor, materials or tools; delays of any contractor, subcontractor or supplier; acts or omissions of the other partyParty; or acts or failures to act of the City, Responsible Agency City or any other public or governmental agency or entity (except that other than the acts or failures to act or delay of the Successor Agency or City which shall not excuse performance by Agency); or any other causes beyond the City)control or without the fault of the Party claiming an extension of time to perform. Notwithstanding anything to the contrary in this Regulatory Agreement, an extension of time for any such cause shall be for the period of the enforced delay and shall commence to run from the time of the commencement of the cause, if notice by the party Party claiming such extension is sent to the other party within thirty ten (3010) days of the commencement of the cause. Times of performance under this Regulatory Agreement may also be extended in writing by the mutual agreement of the Director Agency and Developer. Notwithstanding any provision of this Regulatory Agreement to the contrary, the lack of funding to complete any Component, the construction of the Project shall not constitute grounds of enforced delay pursuant to this Section 602. 603. Transfers of Interest in the Site or AgreementSection.

Appears in 1 contract

Samples: Disposition and Development Agreement

Enforced Delay; Extension of Times of Performance. In addition to specific provisions of this Agreement, performance by either party Party hereunder shall not be deemed to be in Default, and all performance and other dates specified in this Agreement shall be extended, where delays or Defaults are due to: war; insurrection; acts of terrorism; strikes; lockouts; riots; floods; earthquakes; fires; casualties; acts of God; acts of the public enemy; epidemics; quarantine quarantine; restrictions; freight embargoes; lack of transportation; governmental restrictions or priority; litigation; adverse weather conditionsunusually severe weather; inability to secure necessary labor, materials or tools; delays of any contractor, subcontractor or supplier; acts or omissions of the other partyParty; or acts or failures to act of the City, Responsible Agency City or any other public or governmental agency or entity (except that other than the acts or failures to act or delay of the Successor Agency or City which shall not excuse performance by Agency); or any other causes beyond the City)control or without the fault of the party claiming an extension of time to perform. Notwithstanding anything to the contrary in this Agreement, an extension of time for any such cause shall be for the period of the enforced delay and shall commence to run from the time of the commencement of the cause, if notice by the party Party claiming such extension is sent to the other party within thirty (30) days of the commencement of the cause. Times of performance under this Agreement may also be extended in writing by the mutual agreement of the Director Agency and Developer. Notwithstanding any provision of this Agreement Agreement‌ to the contrary, the lack of funding to complete any Component, the Developer Improvements shall not constitute grounds of enforced delay pursuant to this Section 602. 603. Transfers of Interest in the Site or AgreementSection.

Appears in 1 contract

Samples: Disposition and Development Agreement

Enforced Delay; Extension of Times of Performance. In addition Subject to specific provisions the limitations set forth below, the Term of the Project Approvals (including this Agreement, performance by ) and the time within which either party hereunder Party shall not be deemed required to be in Default, and all performance and other dates specified in perform any act under this Agreement shall be extendedextended by a period of time equal to the number of days during which performance of such act is delayed unavoidably and beyond the reasonable control of the Party seeking the delay by strikes, where delays or Defaults are due to: warlock outs, and other labor difficulties; insurrection; acts of terrorism; strikes; lockouts; riots; floods; earthquakes; fires; casualties; acts Acts of God; acts unusually severe weather, but only to the extent that such weather or its effects (including, without limitation, dry out time) result in delays that cumulatively exceed twenty (20) days for any winter season occurring after commencement of construction of the public enemyProject; epidemics; quarantine restrictions; freight embargoes; lack of transportation; governmental restrictions failure or priority; litigation; adverse weather conditions; inability to secure necessary labor, materials or tools; delays labor by reason of priority or similar regulations or order of any contractorgovernmental or regulatory body; changes in local, subcontractor state, or supplierfederal laws or regulations; acts any development moratorium or omissions any action of other public agencies that regulate land use, development, or the provision of services that prevents, prohibits, or delays construction of the Project, including without limitation any extension authorized by Government Code Section 66463.5(d); enemy action; civil disturbances; wars; terrorist acts; fire; unavoidable casualties; mediation, arbitration, litigation, or other partyadministrative or judicial proceeding involving the Project Approvals (including this Agreement), including without limitation any extension authorized by Government Code Section 66463.5(e); or acts or failures to act of the Citya Severe Economic Recession (each a “Force Majeure Delay”), Responsible Agency or any other public or governmental agency or entity (except provided that the acts or failures to act or delay of the Successor Agency or City Term shall not excuse performance by the City)be extended for Severe Economic Recession. Notwithstanding anything to the contrary in this Agreement, an An extension of time for any such cause other than a Severe Economic Recession shall be for the period of the enforced delay and shall commence to run from the time of the commencement of the cause, if notice Notice (as defined in Section 13.5) by the party Party claiming such extension is sent to the other party Party within thirty sixty (3060) days of the commencement of the cause. If Notice is sent after such sixty (60) day period, then the extension shall commence to run no sooner than sixty (60) days prior to the giving of such Notice. Times of performance under this Agreement may also be extended in writing by the mutual agreement of the Director City Manager and Developer. Notwithstanding any provision of this Agreement Developer’s inability or failure to the contrary, the lack of funding to complete any Component, obtain financing shall not constitute grounds be deemed to be a cause outside the reasonable control of enforced the Developer and shall not be the basis for an excused delay pursuant to this Section 602unless such inability, failure, or delay is a direct result of a Severe Economic Recession. 603. Transfers of Interest “Severe Economic Recession” means a significant decline in the Site or Agreement.residential real estate market, as measured by a decline of more than four percent (4%) in the Home Price Index during the preceding twelve (12) month period. Severe Economic Recession

Appears in 1 contract

Samples: Development Agreement

Enforced Delay; Extension of Times of Performance. In addition to specific provisions Time is of the essence in the performance of each of the Parties' respective obligations set forth in this AgreementLease. Except as expressly set forth in this Section 17.2, performance by either party any Party hereunder shall not be deemed to be in Default, default and all performance and other dates specified in this Agreement such Party shall be extended, entitled to an extension of time to perform its obligations hereunder where delays or Defaults in performance are due toto causes beyond the reasonable control and without the fault of such Party, including as applicable: war; insurrection; acts of terrorism, insurrection; strikes; lockouts; riots; floods; earthquakes; fires; casualties; acts of God; , acts of the public enemy; epidemics; quarantine restrictions; freight embargoes; lack of transportation; governmental restrictions or priority; litigation; adverse weather conditionslitigation (including suits filed by third parties concerning or arising out of this Agreement), unusually severe weather; inability to secure necessary labor, materials or tools; delays acts of any contractor, subcontractor or supplierthe other Parties; acts or omissions of the other party; or acts or failures failure to act of the City, Responsible Agency or any other public or governmental agency or entity (except that the acts or failures the failure to act or delay of the Successor Agency or City shall not excuse performance by of the City); or other causes beyond the control or without the fault of the Party claiming an extension of time to perform ("Force Majeure"). Notwithstanding anything to the contrary in this Agreement, an An extension of time for any such cause permitted under this Section 17.2 shall be for limited to the period of the enforced delay and delay, which period shall commence to run from the time of the commencement of the cause, if notice by the party Party claiming such extension is sent to the other party Party within thirty fifteen (3015) days of knowledge of the commencement of the cause. If no written notice is sent within fifteen (15) days, for purposes of measuring the extension period for performance of the obligation in question, the period of the enforced delay shall commence to run from the date written notice is sent to the other Party. Times of performance under this Agreement Lease may also be extended in writing by the mutual written agreement of the Director and Developer. Notwithstanding any provision of this Agreement to the contrary, the lack of funding to complete any Component, shall not constitute grounds of enforced delay pursuant to this Section 602. 603. Transfers of Interest in the Site or AgreementParties.

Appears in 1 contract

Samples: Development, and Loan Agreement

Enforced Delay; Extension of Times of Performance. In addition to specific provisions of this Reimbursement Agreement, performance by either party Party hereunder shall not be deemed to be in Default, and all performance and other dates specified in this Reimbursement Agreement shall be extended, where delays or Defaults are due to: war; insurrection; acts of terrorism; strikes; lockouts; riots; floods; earthquakes; fires; casualties; acts of God; acts of the public enemy; epidemics; quarantine quarantine; restrictions; freight embargoes; lack of transportation; governmental restrictions or priority; litigation; adverse weather conditionsunusually severe weather; inability to secure necessary labor, materials or tools; delays of any contractor, subcontractor or supplier; acts or omissions of the other partyParty; or acts or failures to act of the City, Responsible Agency City or any other public or governmental agency or entity (except that other than the acts or failures to act or delay of the Successor Agency or City which shall not excuse performance by Agency); or any other causes beyond the City)control or without the fault of the party claiming an extension of time to perform. Notwithstanding anything to the contrary in this Reimbursement Agreement, an extension of time for any such cause shall be for the period of the enforced delay and shall commence to run from the time of the commencement of the cause, if notice by the party Party claiming such extension is sent to the other party within thirty (30) days of the commencement of the cause. Times of performance under this Reimbursement Agreement may also be extended in writing by the mutual agreement of the Director Agency and Developer. Notwithstanding any provision of this Reimbursement Agreement to the contrary, the lack of funding to complete any Component, the Remediation Improvements shall not constitute grounds of enforced delay pursuant to this Section 602. 603. Transfers of Interest in the Site or AgreementSection.

Appears in 1 contract

Samples: Disposition and Development Agreement

Enforced Delay; Extension of Times of Performance. In addition to specific provisions of this Agreement, performance by either party Party hereunder shall not be deemed to be in Default, and all performance and other dates specified in this Agreement shall be extended, where delays or Defaults are due to: war; insurrection; acts of terrorism; strikes; lockouts; riots; floods; earthquakes; fires; casualties; acts of God; acts of the public enemy; epidemics; quarantine quarantine; restrictions; freight embargoes; lack of transportation; governmental restrictions or priority; litigation; adverse weather conditionsunusually severe weather; inability to secure necessary labor, materials or tools; delays of any contractor, subcontractor or supplier; acts or omissions of the other partyParty; or acts or failures to act of the City, Responsible Agency City or any other public or governmental agency or entity (except that other than the acts or failures to act or delay of the Successor Agency or City which shall not excuse performance by Agency); or any other causes beyond the City)control or without the fault of the party claiming an extension of time to perform. Notwithstanding anything to the contrary in this Agreement, an extension of time for any such cause shall be for the period of the enforced delay and shall commence to run from the time of the commencement of the cause, if notice by the party Party claiming such extension is sent to the other party within thirty (30) days of the commencement of the cause. Times of performance under this Agreement may also be extended in writing by the mutual agreement of the Director Agency and Developer. Notwithstanding any provision of this Agreement to the contrary, the lack of funding to complete any Component, the Developer Improvements shall not constitute grounds of enforced delay pursuant to this Section 602. 603. Transfers of Interest in the Site or Agreement.Section.‌

Appears in 1 contract

Samples: Disposition and Development Agreement

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