Common use of OAC’s Remedies for Recipient’s Default Clause in Contracts

OAC’s Remedies for Recipient’s Default. In the event Recipient is in default under Section 8.a., OAC may, at its option, pursue any or all of the remedies available to it under this Agreement and at law or in equity, including, but not limited to: (1) termination of this Agreement under Section 8.e.(2); (2) withholding all or part of monies not yet disbursed by OAC to Recipient; (3) initiation of an action or proceeding for damages, specific performance, or declaratory or injunctive relief; or (4) exercise of its right of recovery of Misexpended Funds or Unexpended Funds under Section 5 of this Exhibit B. These remedies are cumulative to the extent the remedies are not inconsistent, and OAC may pursue any remedy or remedies singly, collectively, successively or in any order whatsoever. If a court determines that Recipient was not in default under Section 8.a., then Recipient shall be entitled to the same remedies as if this Agreement was terminated pursuant to Section 8.e.(1).

OAC’s Remedies for Recipient’s Default. In the event Recipient is in default under Section 8.a., OAC may, at its option, pursue any or all of the remedies available to it under this Agreement and at law or in equity, including, but not limited to: (1) termination of this Agreement under Section 8.e.(2); (2) withholding all or part of monies not yet disbursed by OAC to RecipientRecipient ; (3) initiation of an action or proceeding for damages, specific performance, or declaratory or injunctive relief; or (4) exercise of its right of recovery of Misexpended Funds or Unexpended Funds overpayments under Section 5 5. of this Exhibit B. These remedies are cumulative to the extent the remedies are not inconsistent, and OAC may pursue any remedy or remedies singly, collectively, successively or in any order whatsoever. If a court determines that Recipient was not in default under Section 8.a., then Recipient shall be entitled to the same remedies as if this Agreement was terminated pursuant to Section 8.e.(1).