Events of Default by Developer. The occurrence of any of the following, whatever the reason therefor, shall specifically constitute an Event of Default by Developer:
(a) Developer fails to make payment under the Authority Loan Note when due, and such failure is not cured within five (5) days after Developer’s receipt of written notice that such payment was not received when due; or
(b) Developer fails to perform any other obligation for the payment of money (other than payments of principal or interest) under any Project Document, and such failure is not cured within five (5) days after Developer’s receipt of written notice that such obligation was not performed when due, and Developer has not exercised its right to contest the obligation to make such payments in conformity with this Agreement; or
(c) Developer fails to perform any obligation (other than obligations described in subsections (a) and (b), above) under any Project Document, and such failure is not cured within thirty (30) days after Developer’s receipt of written notice that such obligation was not performed; provided that, if cure cannot reasonably be effected within such thirty (30)-day period, such failure shall not be an Event of Default so long as Developer (in any event, within thirty (30) days after receipt of such notice) commences cure, and thereafter diligently prosecutes such cure to completion; or
(d) Work on the Project ceases for thirty (30) consecutive days for any reason (other than and limited to: governmental orders, decrees or regulations, acts of God, strikes or other causes beyond Developer’s reasonable control) and such causes, in the aggregate and in the Authority’s reasonable judgment, threaten to delay the completion of the Project beyond the required Outside Completion Date set forth in this Agreement; or
Events of Default by Developer. In addition to other events of default by Developer set forth in this Agreement, each of the following events constitute a default of this Agreement by Developer:
(a) The CDC reasonably and in good faith determines that any representation or warranty on behalf of Developer contained in this Agreement or in any financial statement, certificate, report, or opinion submitted to the CDC or the City in connection with this Agreement was incorrect or misleading in any material respect when made.
(b) Any attachment or other levy against the Development or any portion thereof with respect to a claim, excluding mechanic’s and materialman’s liens, remains unpaid, undischarged, or not dismissed for a period of 120 days.
(c) Xxxxxxxxx makes an assignment for the benefit of creditors.
(d) Developer files a voluntary petition in bankruptcy or is adjudicated insolvent or bankrupt.
(e) If taxes owed to the City by Developer become delinquent, and Xxxxxxxxx fails to timely and properly follow the legal procedures for protest or contest.
(f) Developer fails to timely, fully and completely comply with any one or more of the deadlines, material requirements, obligations, duties, terms, conditions or warranties of this Agreement.
Events of Default by Developer. Any one (1) or more of the following shall each constitute an “Developer Default” hereunder: Developer’s failure to make any payment due under the terms of this Agreement within thirty (30) days of the date such payment is due; Developer’s failure, after written notice and expiration of a thirty (30) day cure period, to observe or perform any agreement, covenant, or obligation contained herein or any other document executed in connection herewith; Developer’s breach of any warranty, representation, certification, or statement contained in this Agreement or any other document executed in connection herewith, of any certification executed or delivered in connection herewith, and a failure to correct or cure the same within thirty (30) days after written notice; Dissolution, liquidation, or termination of the business of Developer; assignment by Developer for the benefit of its creditors; appointment of a receiver or a trustee for Developer or any of their assets, which appointment is consented to or, if not consented to, is not removed or discharged within sixty (60) days after such appointment; or the filing by Developer of a petition for relief under the United States Bankruptcy Code, which petition is consented to, or, if involuntary, remains undismissed for sixty (60) days after such filing against Developer; and The initiation of any action or proceeding by any federal, state, or local governmental department, agency or instrumentality to seize any assets of Developer pursuant to 18 U.S.C. Sec. 1963, 21 U.S.C. Sec. 853, 21 U.S.C. Sec. 881, I.C. 34-24-1-1 et seq. or any similar federal, state, or local laws and/or regulations as such laws or regulations may be amended, modified, or supplemented from time to time.
Events of Default by Developer. “Default” or an “Event of Default” by Developer under this Agreement shall mean one or more of the following events:
Events of Default by Developer. “Default” or an “Event of Default” by Developer under this Agreement shall mean one or more of the following events: the Developer, in violation of this Agreement, assigns or attempts to assign or transfer this Agreement or control of the Property, or any rights in either; there is any change in the ownership of the Developer or in the identity of the parties in control of the Developer that violates this Agreement; subject to the grace period described in Section 13.3, Developer fails to provide the evidence of Developer’s Financing as required; subject to the grace period described in Section 13.3, Developer fails to commence, diligently pursue and complete construction of the Improvements for each Phase of the redevelopment of the Property as required; a holder of a mortgage or deed of trust exercises any remedy provided by loan documents, law or equity that materially interferes with the construction of the Improvements; or subject to the grace period described in Section 13.3, Developer fails to observe or perform any material and substantial covenant, obligation or agreement required of it under this Agreement or to make good faith efforts to obtain Developer’s Financing.
Events of Default by Developer. Each of the following shall constitute an Event of Default on the part of Developer:
(a) An Act of Bankruptcy with respect to the Developer or the Guarantor occurs.
(b) Developer’s breach of any of its covenants or representations hereunder.
(c) Failure of Developer to pay the Access Fee, as specified in Section 3 of this Develop- ment Agreement to MIRA by the twentieth (20) day of any calendar month in any Op- erating Year that such payment is due.
(d) Failure of Developer to decommission the CEF in accordance with Exhibit D of this Development Agreement.
(e) Developer's allowing or conducting any activities on any of the Properties not expressly authorized by this Development Agreement.
(f) Developer’s failure to comply with any and all Applicable laws as relating to this De- velopment Agreement and Developer’s performance hereunder.
(g) Developer’s failure to provide or maintain the Insurance as required and specified in Section 9 of this Development Agreement, or the Letter of Credit as required and speci- fied in Section 5 of this Development Agreement.
(h) Developer’s storage or disposal of any hazardous materials at the landfill(s).
Events of Default by Developer. Each of the following shall be an "Event of Default" on the part of the Developer:
(i) Developer shall materially breach any of Developer's obligations under this Agreement and such breach shall continue or not be cured within thirty (30) days after the Tribe gives Developer written notice thereof.
(ii) Any representation or warranty that Developer has made under this Agreement shall prove to have been untrue when made, or is later untrue without notice to the Tribe of the change in status and written acceptance by the Tribe of the changed status.
(iii) Developer violates the provisions of Article 9 of this Agreement.
(iv) Developer commits any material breach under the Management Agreement.
(v) Developer fails to qualify for a vendor's license under or otherwise comply with the Gaming Ordinance in any material respect. Exhibit 10.11 If any Event of Default on the part of Developer occurs, the Tribe's obligations under this Agreement shall be terminated, and the Tribe may exercise any rights and remedies available to the Tribe by law, equity or this Agreement.
Events of Default by Developer. “Default” or an “Event of Default” by Developer under this Agreement shall mean one or more of the following events: the Developer, in violation of this Agreement, assigns or attempts to assign or transfer this Agreement or control of the Property, or any rights in either; the Developer, in violation of this Agreement, fails to ensure that Sublessees and/or Sub-Sublessees construct their applicable portions of the Project pursuant to the Concept Plan and this Agreement; a holder of a mortgage or deed of trust exercises any remedy provided by loan documents, law or equity that materially interferes with the construction of the Improvements; or subject to the grace period described in Section 11.4, Developer fails to observe or perform any material and substantial covenant, obligation or agreement required of it under this Agreement.
Events of Default by Developer. Developer shall be in default under this Agreement upon the occurrence of any of the following events or conditions (individually an "Event of Default " and collectively the "Events of Default"):
(a) The Developer fails to obtain Site Approval or any other approval required from BKC prior to the commencement of construction.
(b) The Developer fails to adhere to the agreed development schedules in accordance with Article II of this Agreement.
(c) The Developer consistently fails over a period of nine (9) months to meet and satisfy fully the operational financial and legal requirements set forth in Article IV, whether for the purpose of seeking franchise approval or in the day to day operation of a licensed Burger King Restaurant, and does not cure such failure within thirty days of receipt of written notice from BKC.
(d) The Developer fails to pay any amount when due under this Agreement and does not cure such failure within ten (10) days of written notice from BKC.
(e) Dissolution, termination of existence, or insolvency of either the Developer or any of the Principals, or the appointment of a custodian or receiver of any part of the property of the Developer or any of the Principals, or a trust mortgage or an assignment for the benefit of creditors by either the Developer or any of the Principals; or the recording or existence of any lien for past due taxes, or the commencement by or against either the Developer or any of the Principals of any proceeding under any bankruptcy or insolvency laws; or service on BKC or any writ, summons or process designed to affect any account or property of either the Developer or any of the Principals, any of which is not released, dismissed, discharged, bonded or otherwise adequately reserved against within thirty (30) days.
(f) The Developer fails to obtain or renew any licenses or permits necessary for the performance of the Developer's obligations under this Agreement and does not cure such failure within thirty days of written notice from BKC.
(g) The Developer opens a Burger King Restaurant without franchise approval, site approval, payment of all franchise fees and other fees, and/or execution of all required agreements and documents.
(h) The Developer or any Principal challenges the validity of any of the trademarks or names, copyrights or other industrial property right of Burger King Corporation.
(i) The Developer defaults under any franchise or other agreement with BKC or its Affiliates, fails to cure such defau...
Events of Default by Developer. The occurrence of any of the following, whatever the reason therefor, shall specifically constitute an Event of Default by Developer:
