RECONSIDERATION OR RESCISSION Sample Clauses

RECONSIDERATION OR RESCISSION. If Developer fails to proceed in accordance with this Development Agreement within twenty-four (24) months of the date hereof, Developer, for itself, its successors, and assigns, shall not oppose the City’s reconsideration and rescission of all approvals issued in connection with this Development Agreement, thus restoring the status of the Property before the Development Agreement and all such approvals.
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RECONSIDERATION OR RESCISSION. If School District fails to proceed in accordance with this Development Agreement within twenty-four (24) months of the date hereof, School District, for itself, its successors, and assigns, shall not oppose the City’s reconsideration and rescission of all approvals issued in connection with this Development Agreement, thus restoring the status of the Property before the Development Agreement and all such approvals.
Sample 1

Related to RECONSIDERATION OR RESCISSION

  • Rescission At any time after any Notes have been declared due and payable pursuant to clause (b) or (c) of Section 12.1, the holders of not less than 51% in principal amount of the Notes then outstanding, by written notice to the Company, may rescind and annul any such declaration and its consequences if (a) the Company has paid all overdue interest on the Notes, all principal of and Make-Whole Amount, if any, on any Notes that are due and payable and are unpaid other than by reason of such declaration, and all interest on such overdue principal and Make-Whole Amount, if any, and (to the extent permitted by applicable law) any overdue interest in respect of the Notes, at the Default Rate, (b) all Events of Default and Defaults, other than non-payment of amounts that have become due solely by reason of such declaration, have been cured or have been waived pursuant to Section 17, and (c) no judgment or decree has been entered for the payment of any monies due pursuant hereto or to the Notes. No rescission and annulment under this Section 12.3 will extend to or affect any subsequent Event of Default or Default or impair any right consequent thereon.

  • Cancellation or reduction for convenience 20.1 The Commonwealth may cancel or reduce the scope of this Agreement by notice, due to:

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