Failure-Performance of Covenants Sample Clauses

Failure-Performance of Covenants. 3.3.1 In the event the Developer fails to perform in accordance with or to comply with any of the covenants, conditions and agreements which are to be performed or complied with by the Developer in this Agreement (a “Default”) and fails to cure the Default within thirty (30) days (the “Cure Period”) after receiving written notice of the Default or fails to use all Due Diligence in commencing the cure and in proceeding to effectuate the cure. If the Developer is unable to timely cure the default after receiving written notice, the Developer may request an extension of time from the City Commission which may be granted (“Extended Cure Period”) upon presentation of substantial competent evidence establishing the Developer’s good faith and Due Diligence, justifiable reasons for the delay and the amount of time needed to cure the default. In the event that the Developer fails to cure the Default within the Cure Period, or within the Extended Cure Period(s), whichever is greater, such failure will constitute an Event of Default and a fine will be assessed against the owner Developer in the amount of one hundred fifty dollars ($150.00), or such amount as may be set forth in the City Fee Schedule, for each day the Developer remains in Default thereafter. 3.3.2 In the event that a fine is assessed against the Developer, or the City incurs any expense towards curing the Default, the City will have the right to file a lien, or a continuing special assessment lien, as may be applicable, against the Property and file a lien foreclose action for the full amount of money incurred by the City for said expense as well as for any fine that has been assessed. The City’s lien will be perfected upon being recorded in the land records in Miami-Dade County, Florida and will be of equal rank and dignity as the lien of City’s ad valorem taxes and superior in rank and dignity to all other liens, encumbrances, titles and claims in, to, or against the land in question, unless in conflict with state statutes or Miami-Dade County code. 3.3.3 The City has the right to proceed against the Developer to collect the above- described costs and expenses without resorting to a lien and/or lien foreclosure. The City’s remedies include all those available in law or in equity, including injunctive relief. The exercise of one available remedy will not be deemed a waiver of any other available remedy.
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Related to Failure-Performance of Covenants

  • Performance of Covenants The Company shall have performed or complied with in all material respects all agreements and covenants required to be performed or complied with by it under this Agreement at or prior to the Effective Time.

  • Performance of Covenants and Satisfaction of Conditions To use its reasonable best efforts to do and perform all things required to be done or performed under this Agreement by the Company prior to each Closing Date and to satisfy all conditions precedent to the delivery of the Firm Stock and the Optional Stock.

  • Accuracy of Representations and Performance of Covenants The representations and warranties made by the Company in this Agreement were true when made and shall be true as of the Closing Date (except for changes therein permitted by this Agreement) with the same force and effect as if such representations and warranties were made at and as of the Closing Date. Additionally, the Company shall have performed and complied with all covenants and conditions required by this Agreement to be performed or complied with by the Company.

  • Performance of Agreements and Covenants Each and all of the agreements and covenants of Buyer to be performed and complied with pursuant to this Agreement and the other agreements contemplated hereby prior to the Effective Time shall have been duly performed and complied with in all material respects.

  • Accuracy of Representations and Warranties; Performance of Covenants At the Closing Time, the representations and warranties contained herein or in certificates of any officer of the Company or any of its subsidiaries (including the Bank) delivered pursuant to the provisions hereof, shall be true and correct, when made, and at the Closing Time, and the Company shall have performed its covenants and other obligations hereunder.

  • Performance of Covenants and Agreements The Buyer and Buyer Sub each shall have performed and complied in all material respects with all covenants and agreements contained in this Agreement required to be performed or complied with by it on or prior to the Closing.

  • Excuse from performance of obligations If the Affected Party is rendered wholly or partially unable to perform its obligations under this Agreement because of a Force Majeure Event, it shall be excused from performance of such of its obligations to the extent it is unable to perform on account of such Force Majeure Event; provided that: (a) the suspension of performance shall be of no greater scope and of no longer duration than is reasonably required by the Force Majeure Event; (b) the Affected Party shall make all reasonable efforts to mitigate or limit damage to the other Party arising out of or as a result of the existence or occurrence of such Force Majeure Event and to cure the same with due diligence; and (c) when the Affected Party is able to resume performance of its obligations under this Agreement, it shall give to the other Party notice to that effect and shall promptly resume performance of its obligations hereunder.

  • Breach of Covenants If the Company breaches any of the covenants set forth in this Section 4, and in addition to any other remedies available to the Buyer pursuant to this Agreement, it will be considered an event of default under Section 3.4 of the Note.

  • Joint Covenants Buyer and Seller hereby covenant and agree as follows:

  • Breach of Covenant The Borrower breaches any material covenant or other term or condition of this Note or the Purchase Agreement in any material respect and such breach, if subject to cure, continues for a period of thirty (30) days after the occurrence thereof.

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