Common use of Failure to Complete Project Development Responsibilities Clause in Contracts

Failure to Complete Project Development Responsibilities. If any of the Development Tasks have not been satisfied in their entirety (or otherwise waived in writing by Purchaser, in its sole discretion) within one hundred twenty five (125) Business Days following Seller’s receipt of the Notice to Proceed with Design (and such 125 Business Day period shall not include time for reviews or modifications pursuant to Section 4.1 and shall be extended on a day-for-day basis pursuant to Section 4.1), then either Party may terminate this Agreement upon thirty (30) Days Notice of such termination to the other Party. Notwithstanding anything herein to the contrary, at any time after the Contract Date but prior to issuance of the Development Completion Notice, either Party may immediately terminate this Agreement upon Notice to the non-terminating Party. In the event of termination pursuant to this Section 4.3, neither Party shall be liable for any payment, damages or penalty as a result of such termination.‌

Failure to Complete Project Development Responsibilities. If any of the Development Tasks have not been satisfied in their entirety (or otherwise waived in writing by Purchaser, in its sole discretion) within one hundred twenty five (125) Business Days following Seller’s receipt of the Notice to Proceed with Design (and such 125 Business Day period shall not include time for reviews or modifications pursuant to Section 4.1 and shall be extended on a day-for-for- day basis pursuant to Section 4.1), then either Party may terminate this Agreement upon thirty (30) Days Notice of such termination to the other Party. Notwithstanding anything herein to the contrary, at any time after the Contract Date but prior to issuance of the Development Completion Notice, either Party may immediately terminate this Agreement upon Notice to the non-terminating Party. In the event of termination pursuant to this Section 4.3, neither Party shall be liable for any payment, damages or penalty as a result of such termination.‌termination.

Failure to Complete Project Development Responsibilities. If any of the Development Tasks have not been satisfied in their entirety (or otherwise waived in writing by Purchaser, in its sole discretion) within one hundred twenty five (125) Business Days following Seller’s receipt of the Notice to Proceed with Design (and such 125 Business Day period shall not include time for reviews or modifications pursuant to Section 4.1 and shall be extended on a day-for-for- day basis pursuant to Section 4.1), then either Party may terminate this Agreement upon thirty (30) Days Notice of such termination to the other Party. Notwithstanding anything herein to the contrary, at any time after the Contract Date but prior to issuance of the Development Completion Notice, either Party may DocuSign Envelope ID: E7F8C3BA-0A7D-40B7-90AD-68B83985A9C1 immediately terminate this Agreement upon Notice to the non-terminating Party. In the event of termination pursuant to this Section 4.3, neither Party shall be liable for any payment, damages or penalty as a result of such termination.‌termination.

Failure to Complete Project Development Responsibilities. If any of the Development Tasks have not been satisfied in their entirety (or otherwise waived in writing by Purchaser, in its sole discretion) within one hundred twenty five (125) Business Days following Seller’s receipt of the Notice to Proceed with Design (and such 125 Business Day period shall not include time for reviews or modifications pursuant to Section 4.1 and shall be extended on a day-for-for- day basis pursuant to Section 4.1), then either Party may terminate this Agreement upon thirty (30) Days Notice of such termination to the other Party. Notwithstanding anything herein to the contrary, at any time after the Contract Date but prior to issuance of the Development Completion Notice, either Party may immediately terminate this Agreement upon Notice to the non-terminating Party. In the event of termination pursuant to this Section 4.3, neither Party shall be liable for any payment, damages or penalty as a result of such termination.‌termination